Kestra Advisory Services LLC Buys 6,721 Shares of Otter Tail Co. (NASDAQ:OTTR)

Kestra Advisory Services LLC increased its stake in shares of Otter Tail Co. (NASDAQ:OTTRGet Rating) by 52.1% in the third quarter, Holdings reports. The fund owned 19,620 shares of the utilities provider’s stock after purchasing an additional 6,721 shares during the period. Kestra Advisory Services LLC’s holdings in Otter Tail were worth $1,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in Otter Tail during the second quarter valued at $29,000. Goodman Advisory Group LLC bought a new position in Otter Tail during the second quarter valued at $45,000. C M Bidwell & Associates Ltd. bought a new position in Otter Tail during the second quarter valued at $47,000. EverSource Wealth Advisors LLC bought a new position in Otter Tail during the second quarter valued at $88,000. Finally, Meeder Asset Management Inc. lifted its position in Otter Tail by 100.0% during the second quarter. Meeder Asset Management Inc. now owns 1,320 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 660 shares during the last quarter. Institutional investors own 49.01% of the company’s stock.

Otter Tail Trading Up 0.5 %

Shares of OTTR opened at $61.99 on Wednesday. Otter Tail Co. has a twelve month low of $52.60 and a twelve month high of $82.46. The company has a market cap of $2.58 billion, a P/E ratio of 8.84 and a beta of 0.50. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 0.70. The company’s fifty day simple moving average is $59.18 and its 200-day simple moving average is $65.38.

Otter Tail (NASDAQ:OTTRGet Rating) last announced its earnings results on Monday, October 31st. The utilities provider reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.31. Otter Tail had a net margin of 19.69% and a return on equity of 27.09%. The business had revenue of $383.86 million for the quarter, compared to the consensus estimate of $389.30 million. As a group, analysts expect that Otter Tail Co. will post 6.6 EPS for the current year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 15th were paid a $0.412 dividend. This represents a $1.65 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Monday, November 14th. Otter Tail’s dividend payout ratio is presently 23.54%.

Insider Buying and Selling

In related news, Director John D. Erickson sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $56.31, for a total value of $112,620.00. Following the transaction, the director now owns 3,633 shares of the company’s stock, valued at approximately $204,574.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Siebert Williams Shank upgraded shares of Otter Tail from a “sell” rating to a “hold” rating and set a $63.00 price objective for the company in a research report on Monday, November 28th. Maxim Group lowered their price objective on shares of Otter Tail from $95.00 to $75.00 in a research report on Wednesday, November 2nd. Finally, downgraded shares of Otter Tail from a “buy” rating to a “hold” rating in a research note on Monday, October 31st.

Otter Tail Profile

(Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.

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Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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