Otter Tail Corporation $OTTR Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. grew its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,384 shares of the utilities provider’s stock after acquiring an additional 223 shares during the quarter. D.A. Davidson & CO.’s holdings in Otter Tail were worth $492,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of OTTR. Adage Capital Partners GP L.L.C. acquired a new position in shares of Otter Tail during the first quarter valued at $17,681,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Otter Tail by 82.2% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 406,321 shares of the utilities provider’s stock valued at $32,656,000 after purchasing an additional 183,316 shares in the last quarter. Nuveen LLC bought a new stake in shares of Otter Tail during the first quarter valued at about $13,217,000. Denali Advisors LLC raised its stake in shares of Otter Tail by 883.3% during the first quarter. Denali Advisors LLC now owns 67,959 shares of the utilities provider’s stock valued at $5,462,000 after purchasing an additional 61,048 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Otter Tail by 190.8% during the first quarter. Jane Street Group LLC now owns 54,112 shares of the utilities provider’s stock valued at $4,349,000 after purchasing an additional 35,505 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OTTR. Weiss Ratings upgraded shares of Otter Tail from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Zacks Research upgraded shares of Otter Tail to a “hold” rating in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Otter Tail Price Performance

Shares of Otter Tail stock opened at $77.26 on Thursday. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $81.18 and its two-hundred day moving average price is $79.42. Otter Tail Corporation has a 52 week low of $71.66 and a 52 week high of $88.36. The stock has a market cap of $3.24 billion, a PE ratio of 11.36 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The firm had revenue of $333.04 million for the quarter, compared to analysts’ expectations of $329.60 million. During the same period in the previous year, the business earned $2.07 earnings per share. Otter Tail’s revenue for the quarter was down 2.7% compared to the same quarter last year. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. As a group, sell-side analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.525 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.10 annualized dividend and a yield of 2.7%. Otter Tail’s payout ratio is 30.88%.

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.