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Oregon Public Employees Retirement Fund Sells 182 Shares of ALLETE, Inc. (NYSE:ALE)

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Oregon Public Employees Retirement Fund reduced its holdings in shares of ALLETE, Inc. (NYSE:ALEGet Rating) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,807 shares of the utilities provider’s stock after selling 182 shares during the period. Oregon Public Employees Retirement Fund’s holdings in ALLETE were worth $1,126,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ALE. Louisiana State Employees Retirement System lifted its holdings in shares of ALLETE by 1.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the utilities provider’s stock worth $896,000 after acquiring an additional 200 shares during the last quarter. Profund Advisors LLC lifted its stake in ALLETE by 4.5% in the fourth quarter. Profund Advisors LLC now owns 5,984 shares of the utilities provider’s stock worth $397,000 after purchasing an additional 258 shares during the last quarter. State of Michigan Retirement System boosted its position in ALLETE by 2.3% during the fourth quarter. State of Michigan Retirement System now owns 13,350 shares of the utilities provider’s stock valued at $886,000 after buying an additional 300 shares during the period. O Shares Investment Advisers LLC grew its stake in shares of ALLETE by 8.2% during the fourth quarter. O Shares Investment Advisers LLC now owns 4,843 shares of the utilities provider’s stock valued at $321,000 after buying an additional 367 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of ALLETE by 9.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,450 shares of the utilities provider’s stock worth $295,000 after buying an additional 370 shares during the period. 70.30% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on ALE. StockNews.com initiated coverage on ALLETE in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Bank of America started coverage on shares of ALLETE in a research note on Wednesday, May 25th. They issued a “neutral” rating and a $63.00 target price on the stock.

Shares of NYSE:ALE opened at $58.54 on Wednesday. The stock’s 50-day moving average is $59.92 and its 200 day moving average is $62.60. The company has a market cap of $3.12 billion, a PE ratio of 16.82, a P/E/G ratio of 1.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.86 and a quick ratio of 0.51. ALLETE, Inc. has a 1 year low of $56.55 and a 1 year high of $73.10.

ALLETE (NYSE:ALEGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The utilities provider reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.05). The business had revenue of $383.50 million during the quarter, compared to the consensus estimate of $353.25 million. ALLETE had a return on equity of 6.23% and a net margin of 12.55%. ALLETE’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share. Analysts expect that ALLETE, Inc. will post 3.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th were issued a $0.65 dividend. The ex-dividend date was Friday, May 13th. This represents a $2.60 annualized dividend and a yield of 4.44%. ALLETE’s dividend payout ratio (DPR) is presently 74.71%.

ALLETE Profile (Get Rating)

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. 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 145,000 retail customers and 15 non-affiliated municipal customers.

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