Denali Advisors LLC Acquires Shares of 6,911 Otter Tail Co. (NASDAQ:OTTR)

Denali Advisors LLC purchased a new stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,911 shares of the utilities provider's stock, valued at approximately $510,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Asset Planning Inc acquired a new position in Otter Tail during the fourth quarter valued at approximately $37,000. Wilmington Savings Fund Society FSB acquired a new position in Otter Tail in the 3rd quarter valued at $39,000. Allworth Financial LP lifted its position in Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock worth $43,000 after purchasing an additional 312 shares during the period. Crews Bank & Trust acquired a new stake in shares of Otter Tail during the 4th quarter worth approximately $81,000. Finally, KBC Group NV increased its stake in shares of Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock valued at $98,000 after purchasing an additional 272 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Trading Up 0.4 %

Shares of OTTR stock traded up $0.28 during trading hours on Friday, hitting $79.73. 216,719 shares of the company's stock traded hands, compared to its average volume of 238,598. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The stock has a market cap of $3.33 billion, a PE ratio of 11.12 and a beta of 0.57. The stock's 50 day simple moving average is $77.45 and its 200 day simple moving average is $79.09.

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Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm had revenue of $303.11 million for the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. On average, sell-side analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $0.525 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.63%. This is an increase from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's payout ratio is 29.29%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OTTR shares. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 6th. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th.

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.