Envestnet Asset Management Inc. Has $535,000 Holdings in Otter Tail Corporation (NASDAQ:OTTR)

Envestnet Asset Management Inc. raised its holdings in shares of Otter Tail Corporation (NASDAQ:OTTR) by 28.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,661 shares of the utilities provider’s stock after purchasing an additional 1,465 shares during the period. Envestnet Asset Management Inc.’s holdings in Otter Tail were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in OTTR. Sei Investments Co. lifted its position in Otter Tail by 4.3% during the 4th quarter. Sei Investments Co. now owns 7,709 shares of the utilities provider’s stock valued at $569,000 after purchasing an additional 318 shares during the period. LPL Financial LLC lifted its position in Otter Tail by 3.2% during the 4th quarter. LPL Financial LLC now owns 59,865 shares of the utilities provider’s stock valued at $4,420,000 after purchasing an additional 1,837 shares during the period. JPMorgan Chase & Co. lifted its position in Otter Tail by 93.5% during the 4th quarter. JPMorgan Chase & Co. now owns 189,345 shares of the utilities provider’s stock valued at $13,981,000 after purchasing an additional 91,516 shares during the period. Pictet Asset Management Holding SA lifted its position in Otter Tail by 15.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,211 shares of the utilities provider’s stock valued at $532,000 after purchasing an additional 956 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in Otter Tail by 7.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,672 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 256 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Performance

Shares of OTTR stock opened at $80.94 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 2.03. The stock has a market cap of $3.39 billion, a PE ratio of 11.90 and a beta of 0.56. The stock has a 50-day moving average of $77.86 and a 200-day moving average of $78.73. Otter Tail Corporation has a one year low of $71.66 and a one year high of $96.79.

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

Wall Street Analyst Weigh In

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

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.