Otter Tail Corporation (NASDAQ:OTTR) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Otter Tail Corporation (NASDAQ:OTTR) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,878 shares of the utilities provider’s stock after acquiring an additional 375 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Otter Tail were worth $1,437,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OTTR. USA Financial Formulas grew its stake in shares of Otter Tail by 53.5% in the first quarter. USA Financial Formulas now owns 1,202 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 419 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Otter Tail by 4.5% in the first quarter. Assenagon Asset Management S.A. now owns 6,441 shares of the utilities provider’s stock valued at $518,000 after purchasing an additional 277 shares during the period. Farther Finance Advisors LLC grew its stake in Otter Tail by 1,116.4% during the 1st quarter. Farther Finance Advisors LLC now owns 2,664 shares of the utilities provider’s stock worth $217,000 after purchasing an additional 2,445 shares in the last quarter. Vest Financial LLC purchased a new stake in Otter Tail during the 1st quarter worth about $2,411,000. Finally, NBC Securities Inc. raised its position in Otter Tail by 122,650.0% in the 1st quarter. NBC Securities Inc. now owns 2,455 shares of the utilities provider’s stock valued at $197,000 after purchasing an additional 2,453 shares in the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Siebert Williams Shank raised Otter Tail from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $82.00 to $83.00 in a research report on Wednesday, May 7th.

Otter Tail Trading Down 1.9%

Shares of NASDAQ:OTTR opened at $77.09 on Tuesday. Otter Tail Corporation has a 52 week low of $71.66 and a 52 week high of $100.84. The company’s 50 day moving average is $77.86 and its two-hundred day moving average is $78.17. The company has a market cap of $3.23 billion, a PE ratio of 10.98 and a beta of 0.55. The company has a current ratio of 2.62, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, May 5th. The utilities provider reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. The firm had revenue of $337.35 million during the quarter, compared to the consensus estimate of $349.70 million. Otter Tail had a net margin of 22.37% and a return on equity of 17.95%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share. Equities analysts predict that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, May 15th. Otter Tail’s payout ratio is 29.91%.

About Otter Tail

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.