Avantax Advisory Services Inc. Acquires 228 Shares of Otter Tail Corporation (NASDAQ:OTTR)

Avantax Advisory Services Inc. raised its stake in shares of Otter Tail Corporation (NASDAQ:OTTR) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,964 shares of the utilities provider’s stock after buying an additional 228 shares during the period. Avantax Advisory Services Inc.’s holdings in Otter Tail were worth $560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Byrne Asset Management LLC lifted its position in Otter Tail by 54.8% during the first quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Otter Tail in the 4th quarter valued at about $36,000. AdvisorNet Financial Inc lifted its stake in shares of Otter Tail by 120.0% during the 1st quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 300 shares during the last quarter. Goodman Advisory Group LLC bought a new position in shares of Otter Tail during the 1st quarter worth approximately $54,000. Finally, Studio Investment Management LLC purchased a new position in Otter Tail during the 4th quarter worth $50,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

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

Otter Tail Price Performance

OTTR stock opened at $80.94 on Wednesday. The company has a market capitalization of $3.39 billion, a PE ratio of 11.90 and a beta of 0.56. Otter Tail Corporation has a 12-month low of $71.66 and a 12-month high of $96.79. The company has a current ratio of 2.62, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average price is $77.86 and its 200 day moving average price is $78.73.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $333.04 million for the quarter, compared to analyst estimates of $329.60 million. Otter Tail had a return on equity of 17.10% and a net margin of 21.82%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. On average, sell-side analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Company 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.