TIAA Trust National Association Sells 1,711 Shares of ALLETE, Inc. (NYSE:ALE)

TIAA Trust National Association lessened its holdings in ALLETE, Inc. (NYSE:ALE) by 28.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,253 shares of the utilities provider’s stock after selling 1,711 shares during the quarter. TIAA Trust National Association’s holdings in ALLETE were worth $276,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Jones Financial Companies Lllp lifted its holdings in ALLETE by 30.9% in the fourth quarter. Jones Financial Companies Lllp now owns 729 shares of the utilities provider’s stock valued at $47,000 after buying an additional 172 shares during the period. Fifth Third Bancorp boosted its position in shares of ALLETE by 32.9% in the 4th quarter. Fifth Third Bancorp now owns 876 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 217 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of ALLETE by 31.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,563 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 370 shares during the period. KBC Group NV increased its holdings in ALLETE by 61.7% in the fourth quarter. KBC Group NV now owns 2,431 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 928 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in ALLETE in the third quarter valued at about $266,000. Institutional investors and hedge funds own 76.55% of the company’s stock.

ALLETE Trading Up 0.0 %

Shares of NYSE ALE opened at $65.68 on Friday. ALLETE, Inc. has a twelve month low of $56.66 and a twelve month high of $65.99. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 21.19 and a beta of 0.74. The company has a quick ratio of 0.69, a current ratio of 1.08 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average is $65.55 and its 200-day moving average is $64.88.

ALLETE (NYSE:ALE) last posted its earnings results on Tuesday, February 18th. The utilities provider reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.15). ALLETE had a return on equity of 5.97% and a net margin of 11.72%.

ALLETE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.45%. This is a positive change from ALLETE’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, February 14th. ALLETE’s payout ratio is 94.19%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on ALLETE in a research report on Friday, January 10th. They set a “hold” rating for the company.

ALLETE Profile

ALLETE, Inc operates as an energy company. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments. It generates electricity from coal-fired, biomass co-fired / natural gas, hydroelectric, wind, and solar. In addition, the company provides regulated utility electric services in northwestern Wisconsin to approximately 15,000 electric customers, 13,000 natural gas customers, and 10,000 water customers, as well as regulated utility electric services in northeastern Minnesota to approximately 150,000 retail customers and 14 non-affiliated municipal customers.