Otter Tail Corporation $OTTR Stake Reduced by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of Otter Tail Corporation (NASDAQ:OTTR) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,848 shares of the utilities provider’s stock after selling 6,377 shares during the period. Rhumbline Advisers owned approximately 0.25% of Otter Tail worth $8,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in OTTR. GAMMA Investing LLC raised its holdings in shares of Otter Tail by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 132 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Otter Tail in the second quarter valued at $53,000. Nisa Investment Advisors LLC increased its holdings in shares of Otter Tail by 14.9% in the third quarter. Nisa Investment Advisors LLC now owns 997 shares of the utilities provider’s stock valued at $82,000 after buying an additional 129 shares in the last quarter. Allworth Financial LP lifted its position in shares of Otter Tail by 84.3% during the 2nd quarter. Allworth Financial LP now owns 1,198 shares of the utilities provider’s stock valued at $92,000 after acquiring an additional 548 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Otter Tail during the 3rd quarter worth $110,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Trading Down 1.9%

Otter Tail stock opened at $84.95 on Friday. Otter Tail Corporation has a 52 week low of $71.79 and a 52 week high of $90.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.82 and a current ratio of 2.28. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 12.95 and a beta of 0.55. The company has a 50 day moving average price of $85.51 and a 200 day moving average price of $82.97.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, February 16th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.07. The company had revenue of $308.10 million during the quarter, compared to analyst estimates of $311.15 million. Otter Tail had a return on equity of 15.36% and a net margin of 21.16%.The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. Otter Tail has set its FY 2026 guidance at 5.220-5.620 EPS. Research analysts forecast that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, February 13th. This is a boost from Otter Tail’s previous quarterly dividend of $0.53. Otter Tail’s dividend payout ratio is 35.21%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Otter Tail in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Otter Tail 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.