Guggenheim Capital LLC Increases Stake in ALLETE Inc (ALE)

Guggenheim Capital LLC boosted its position in shares of ALLETE Inc (NYSE:ALE) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,461 shares of the utilities provider’s stock after acquiring an additional 920 shares during the period. Guggenheim Capital LLC’s holdings in ALLETE were worth $9,180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ALE. Sei Investments Co. lifted its position in ALLETE by 399.6% during the fourth quarter. Sei Investments Co. now owns 472,667 shares of the utilities provider’s stock valued at $19,278,000 after acquiring an additional 378,053 shares during the last quarter. Renaissance Technologies LLC lifted its position in ALLETE by 72.9% during the fourth quarter. Renaissance Technologies LLC now owns 419,499 shares of the utilities provider’s stock valued at $31,194,000 after acquiring an additional 176,899 shares during the last quarter. BlackRock Inc. lifted its position in ALLETE by 1.6% during the fourth quarter. BlackRock Inc. now owns 6,686,198 shares of the utilities provider’s stock valued at $497,185,000 after acquiring an additional 108,468 shares during the last quarter. Wells Fargo & Company MN lifted its position in ALLETE by 40.1% during the fourth quarter. Wells Fargo & Company MN now owns 269,665 shares of the utilities provider’s stock valued at $20,052,000 after acquiring an additional 77,232 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in ALLETE by 223.7% during the fourth quarter. Arizona State Retirement System now owns 85,483 shares of the utilities provider’s stock valued at $6,357,000 after acquiring an additional 59,071 shares during the last quarter. 73.47% of the stock is owned by institutional investors.

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ALLETE Inc (ALE) opened at $70.12 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 1.05. ALLETE Inc has a 52 week low of $66.64 and a 52 week high of $81.24. The stock has a market cap of $3,586.19, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 3.18 and a beta of 0.38.

ALLETE (NYSE:ALE) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.13). ALLETE had a net margin of 12.13% and a return on equity of 8.40%. The company had revenue of $337.90 million for the quarter, compared to analyst estimates of $348.00 million. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. equities research analysts expect that ALLETE Inc will post 3.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were paid a dividend of $0.56 per share. This is a positive change from ALLETE’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, February 14th. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. ALLETE’s dividend payout ratio is presently 66.27%.

ALE has been the subject of a number of analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating and set a $64.00 target price (up previously from $60.00) on shares of ALLETE in a research report on Friday, March 16th. Zacks Investment Research cut shares of ALLETE from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Mizuho initiated coverage on shares of ALLETE in a research report on Wednesday, February 28th. They set a “buy” rating and a $71.50 target price for the company. Guggenheim reissued a “hold” rating and set a $63.00 target price on shares of ALLETE in a research report on Friday, February 23rd. Finally, Williams Capital raised shares of ALLETE from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.07.

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ALLETE Profile

ALLETE, Inc is an energy company. The Company’s segments include Regulated Operations, ALLETE Clean Energy, Inc (ALLETE Clean Energy), U.S. Water Services Holding Company (U.S. Water Services), and Corporate and Other. The Regulated Operations segment includes its regulated utilities, Minnesota Power, and Superior Water, Light and Power Company, and its investment in American Transmission Company LLC.

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Institutional Ownership by Quarter for ALLETE (NYSE:ALE)

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