Denali Advisors LLC Has $7.06 Million Stock Holdings in Otter Tail Corporation $OTTR

Denali Advisors LLC lifted its stake in Otter Tail Corporation (NASDAQ:OTTR) by 8.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 86,125 shares of the utilities provider’s stock after purchasing an additional 6,950 shares during the quarter. Denali Advisors LLC owned 0.21% of Otter Tail worth $7,060,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Otter Tail by 77.3% in the third quarter. JPMorgan Chase & Co. now owns 605,504 shares of the utilities provider’s stock worth $49,633,000 after buying an additional 264,009 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Otter Tail by 4.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 25,600 shares of the utilities provider’s stock worth $2,098,000 after purchasing an additional 1,031 shares during the period. Public Sector Pension Investment Board grew its position in Otter Tail by 27.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 182,086 shares of the utilities provider’s stock worth $14,926,000 after purchasing an additional 39,226 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Otter Tail by 0.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 21,900 shares of the utilities provider’s stock valued at $1,795,000 after purchasing an additional 185 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Otter Tail by 183.2% in the third quarter. LSV Asset Management now owns 169,072 shares of the utilities provider’s stock valued at $13,859,000 after purchasing an additional 109,372 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Otter Tail in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Otter Tail currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Otter Tail Price Performance

OTTR opened at $88.16 on Monday. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 13.30 and a beta of 0.55. Otter Tail Corporation has a 1 year low of $71.79 and a 1 year high of $90.11. The company has a current ratio of 3.57, a quick ratio of 2.82 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $85.15 and a 200 day moving average price of $82.69.

Otter Tail Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a $0.5775 dividend. This is an increase from Otter Tail’s previous quarterly dividend of $0.53. This represents a $2.31 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, February 13th. Otter Tail’s dividend payout ratio is currently 34.84%.

Otter Tail Company Profile

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.