Thrivent Financial for Lutherans Purchases 8,663 Shares of Otter Tail Corporation $OTTR

Thrivent Financial for Lutherans raised its position in Otter Tail Corporation (NASDAQ:OTTR) by 26.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 41,187 shares of the utilities provider’s stock after acquiring an additional 8,663 shares during the period. Thrivent Financial for Lutherans’ holdings in Otter Tail were worth $3,328,000 as of its most recent filing with the SEC.

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

Otter Tail Stock Up 0.8%

OTTR stock opened at $87.35 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $3.67 billion, a PE ratio of 13.10 and a beta of 0.47. Otter Tail Corporation has a 1-year low of $74.15 and a 1-year high of $92.24. The business’s 50 day simple moving average is $87.90 and its 200 day simple moving average is $85.85.

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

Otter Tail Dividend Announcement

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 issued a dividend of $0.5775 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.31 dividend on an annualized basis and a dividend yield of 2.6%. Otter Tail’s payout ratio is presently 34.63%.

Analysts Set New Price Targets

OTTR has been the topic of a number of analyst reports. Siebert Williams Shank cut Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Wednesday, May 6th. Zacks Research upgraded Otter Tail from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings upgraded Otter Tail from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $86.00.

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.