AlphaQuest LLC Raises Holdings in Otter Tail Corporation $OTTR

AlphaQuest LLC grew its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 131.0% during the second quarter, Holdings Channel reports. The institutional investor owned 19,044 shares of the utilities provider’s stock after purchasing an additional 10,799 shares during the quarter. AlphaQuest LLC’s holdings in Otter Tail were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in Otter Tail by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 551,338 shares of the utilities provider’s stock worth $44,311,000 after purchasing an additional 14,793 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Otter Tail by 82.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 406,321 shares of the utilities provider’s stock worth $32,656,000 after purchasing an additional 183,316 shares in the last quarter. Invesco Ltd. lifted its holdings in Otter Tail by 9.8% during the 1st quarter. Invesco Ltd. now owns 319,907 shares of the utilities provider’s stock worth $25,711,000 after purchasing an additional 28,563 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Otter Tail by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 231,561 shares of the utilities provider’s stock worth $18,611,000 after purchasing an additional 5,574 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Otter Tail during the 1st quarter worth about $17,681,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Otter Tail in a report on Wednesday, October 8th. Zacks Research upgraded Otter Tail to a “hold” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.00.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $78.55 on Friday. The company has a quick ratio of 2.57, a current ratio of 3.31 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.29 billion, a P/E ratio of 11.55 and a beta of 0.54. The stock’s 50-day simple moving average is $81.53 and its two-hundred day simple moving average is $79.39. Otter Tail Corporation has a twelve month low of $71.66 and a twelve month high of $88.36.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $333.04 million for the quarter, compared to analysts’ expectations of $329.60 million. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.Otter Tail’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $2.07 EPS. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. As a group, equities analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 15th. Otter Tail’s dividend payout ratio (DPR) is currently 30.88%.

Otter Tail Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The 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 markets.