ALLETE Inc (NYSE:ALE) CEO Alan R. Hodnik sold 6,000 shares of ALLETE stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $86.98, for a total transaction of $521,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of ALLETE stock traded up $0.01 during trading on Friday, hitting $87.20. The stock had a trading volume of 8,465 shares, compared to its average volume of 152,127. The firm’s fifty day simple moving average is $85.56 and its 200-day simple moving average is $83.59. The stock has a market cap of $4.39 billion, a PE ratio of 24.14, a PEG ratio of 3.25 and a beta of 0.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.34 and a quick ratio of 1.08. ALLETE Inc has a 12 month low of $72.42 and a 12 month high of $88.58.

ALLETE (NYSE:ALE) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $290.40 million during the quarter, compared to analyst estimates of $349.00 million. ALLETE had a net margin of 13.61% and a return on equity of 9.14%. The business’s revenue was down 15.6% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. Analysts expect that ALLETE Inc will post 3.63 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a $0.5875 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $2.35 annualized dividend and a dividend yield of 2.69%. ALLETE’s dividend payout ratio (DPR) is presently 65.10%.

Several institutional investors have recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in shares of ALLETE by 13.6% in the 2nd quarter. Boston Partners now owns 21,298 shares of the utilities provider’s stock worth $1,772,000 after acquiring an additional 2,556 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of ALLETE by 1.6% in the 2nd quarter. BlackRock Inc. now owns 6,187,056 shares of the utilities provider’s stock worth $514,825,000 after acquiring an additional 99,981 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of ALLETE by 9.6% in the 2nd quarter. Royal Bank of Canada now owns 63,832 shares of the utilities provider’s stock worth $5,310,000 after acquiring an additional 5,604 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of ALLETE in the 2nd quarter worth about $674,000. Finally, Eaton Vance Management lifted its holdings in shares of ALLETE by 6.8% in the 2nd quarter. Eaton Vance Management now owns 104,908 shares of the utilities provider’s stock worth $8,729,000 after acquiring an additional 6,644 shares during the last quarter. Hedge funds and other institutional investors own 71.85% of the company’s stock.

Separately, Zacks Investment Research cut shares of ALLETE from a “hold” rating to a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $81.08.

ALLETE Company Profile

ALLETE, Inc operates as an energy company. The company operates through three segments: Regulated Operations, ALLETE Clean Energy, and U.S. Water Services. It generates electricity from coal-fired, wind, hydroelectric, natural gas-fired, biomass co-fired, solar, and other sources. The company provides regulated utility electric, natural gas, and water 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 16 non-affiliated municipal customers.

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Insider Buying and Selling by Quarter for ALLETE (NYSE:ALE)

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