A number of other institutional investors have also recently modified their holdings of OTTR. Legal & General Group Plc increased its holdings in shares of Otter Tail by 21.2% in the 3rd quarter. Legal & General Group Plc now owns 14,930 shares of the utilities provider’s stock valued at $649,000 after acquiring an additional 2,612 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Otter Tail by 63.7% in the 3rd quarter. Wells Fargo & Company MN now owns 73,686 shares of the utilities provider’s stock valued at $3,194,000 after acquiring an additional 28,678 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Otter Tail by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,158,720 shares of the utilities provider’s stock valued at $50,232,000 after acquiring an additional 33,584 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of Otter Tail in the 4th quarter valued at $803,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Otter Tail by 4.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 279,001 shares of the utilities provider’s stock valued at $12,402,000 after acquiring an additional 13,101 shares during the period. Institutional investors own 41.85% of the company’s stock.
Raymond James & Associates purchased a new position in Otter Tail Co. (NASDAQ:OTTR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,675 shares of the utilities provider’s stock, valued at approximately $252,000.
Several equities analysts have issued reports on OTTR shares. Zacks Investment Research raised shares of Otter Tail from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Wednesday, March 7th. BidaskClub upgraded shares of Otter Tail from a “hold” rating to a “buy” rating in a research report on Wednesday, March 21st. ValuEngine upgraded shares of Otter Tail from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Williams Capital restated a “hold” rating and set a $42.00 target price (up from $41.00) on shares of Otter Tail in a research report on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $44.33.
NASDAQ OTTR opened at $43.90 on Wednesday. The stock has a market cap of $1.76 billion, a PE ratio of 23.60 and a beta of 0.63. Otter Tail Co. has a 12 month low of $36.45 and a 12 month high of $48.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.93 and a quick ratio of 0.59.
Otter Tail (NASDAQ:OTTR) last posted its earnings results on Monday, May 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.13. The firm had revenue of $241.30 million during the quarter, compared to the consensus estimate of $224.90 million. Otter Tail had a net margin of 9.02% and a return on equity of 11.64%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. analysts expect that Otter Tail Co. will post 1.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 9th. Investors of record on Tuesday, May 15th will be given a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Monday, May 14th. Otter Tail’s dividend payout ratio (DPR) is presently 72.04%.
In other Otter Tail news, CFO Kevin G. Moug sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $40.55, for a total value of $60,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.
About Otter Tail
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc markets.