Stifel Financial Corp raised its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 39.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 255,591 shares of the utilities provider’s stock after buying an additional 71,791 shares during the quarter. Stifel Financial Corp’s holdings in Otter Tail were worth $12,716,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Otter Tail by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,204,544 shares of the utilities provider’s stock valued at $59,794,000 after acquiring an additional 14,909 shares in the last quarter. United Services Automobile Association raised its holdings in shares of Otter Tail by 11.2% during the fourth quarter. United Services Automobile Association now owns 10,335 shares of the utilities provider’s stock valued at $513,000 after acquiring an additional 1,041 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Otter Tail by 3.7% during the fourth quarter. Bessemer Group Inc. now owns 33,600 shares of the utilities provider’s stock valued at $1,668,000 after acquiring an additional 1,186 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Otter Tail by 22.5% during the fourth quarter. Citigroup Inc. now owns 13,919 shares of the utilities provider’s stock valued at $691,000 after acquiring an additional 2,558 shares in the last quarter. Finally, Martingale Asset Management L P raised its holdings in shares of Otter Tail by 1.8% during the fourth quarter. Martingale Asset Management L P now owns 73,721 shares of the utilities provider’s stock valued at $3,660,000 after acquiring an additional 1,300 shares in the last quarter. 43.71% of the stock is owned by institutional investors and hedge funds.
OTTR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Otter Tail from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, November 27th. BidaskClub downgraded Otter Tail from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 27th.
Shares of Otter Tail stock opened at $50.13 on Friday. The company has a market cap of $1.99 billion, a P/E ratio of 24.33 and a beta of 0.34. Otter Tail Co. has a 52 week low of $42.30 and a 52 week high of $51.88. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.81.
Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, February 18th. The utilities provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The firm had revenue of $221.17 million during the quarter. Otter Tail had a return on equity of 11.45% and a net margin of 8.99%. On average, equities analysts predict that Otter Tail Co. will post 2.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.79%. This is a boost from Otter Tail’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, February 14th. Otter Tail’s dividend payout ratio is presently 67.96%.
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Otter Tail Profile
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics 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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