Otter Tail Corporation $OTTR Shares Bought by AlphaQuest LLC

AlphaQuest LLC raised its position in Otter Tail Corporation (NASDAQ:OTTR) by 52.0% during the 4th quarter, Holdings Channel reports. The firm owned 30,566 shares of the utilities provider’s stock after acquiring an additional 10,457 shares during the quarter. AlphaQuest LLC’s holdings in Otter Tail were worth $2,470,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OTTR. Royal Bank of Canada grew its holdings in Otter Tail by 2.5% in the first quarter. Royal Bank of Canada now owns 116,479 shares of the utilities provider’s stock valued at $9,361,000 after purchasing an additional 2,807 shares during the last quarter. AQR Capital Management LLC grew its holdings in Otter Tail by 26.9% in the first quarter. AQR Capital Management LLC now owns 22,709 shares of the utilities provider’s stock valued at $1,825,000 after purchasing an additional 4,815 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Otter Tail by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,611 shares of the utilities provider’s stock valued at $1,978,000 after purchasing an additional 1,067 shares during the last quarter. United Services Automobile Association acquired a new stake in Otter Tail in the first quarter valued at $223,000. Finally, Jane Street Group LLC grew its holdings in Otter Tail by 190.8% in the first quarter. Jane Street Group LLC now owns 54,112 shares of the utilities provider’s stock valued at $4,349,000 after purchasing an additional 35,505 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on OTTR shares. Zacks Research raised Otter Tail from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Siebert Williams Shank lowered Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded Otter Tail from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $86.00.

Otter Tail Stock Performance

NASDAQ OTTR opened at $88.30 on Wednesday. The business’s 50-day moving average price is $87.96 and its 200 day moving average price is $85.99. Otter Tail Corporation has a twelve month low of $74.15 and a twelve month high of $92.24. The company has a market capitalization of $3.71 billion, a PE ratio of 13.24 and a beta of 0.47. The company has a current ratio of 2.04, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.31. Otter Tail had a return on equity of 15.21% and a net margin of 21.34%.The firm had revenue of $347.03 million for the quarter, compared to the consensus estimate of $339.10 million. During the same period in the prior year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts predict that Otter Tail Corporation will post 5.48 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.5775 per share. The ex-dividend date is Friday, May 15th. This represents a $2.31 annualized dividend and a yield of 2.6%. Otter Tail’s dividend payout ratio is 34.63%.

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.