Otter Tail Co. (NASDAQ:OTTR) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,370 shares of the utilities provider's stock after purchasing an additional 5,926 shares during the period. Edgestream Partners L.P. owned about 0.20% of Otter Tail worth $6,156,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in shares of Otter Tail during the fourth quarter worth approximately $37,000. Wilmington Savings Fund Society FSB bought a new position in Otter Tail in the third quarter worth approximately $39,000. Crews Bank & Trust purchased a new position in Otter Tail during the 4th quarter worth $81,000. KBC Group NV raised its position in Otter Tail by 27.9% during 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 in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Otter Tail by 28.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock worth $111,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Stock Down 0.3 %

NASDAQ:OTTR traded down $0.22 during trading hours on Tuesday, reaching $82.26. The company's stock had a trading volume of 221,738 shares, compared to its average volume of 248,996. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. The company has a market capitalization of $3.44 billion, a P/E ratio of 11.47 and a beta of 0.53. The stock has a 50 day moving average price of $78.10 and a two-hundred day moving average price of $78.72. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84.

Remove Ads

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The firm had revenue of $303.11 million during the quarter, compared to analysts' expectations of $314.75 million. Equities analysts predict that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $0.525 dividend. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a yield of 2.55%. The ex-dividend date was Friday, February 14th. Otter Tail's payout ratio is currently 29.29%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Otter Tail from a "sell" rating to a "hold" rating in a report on Thursday, November 14th.

About Otter Tail

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.