Proficio Capital Partners LLC Acquires Shares of 15,802 Otter Tail Co. (NASDAQ:OTTR)

Proficio Capital Partners LLC purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,802 shares of the utilities provider's stock, valued at approximately $1,167,000.

Other hedge funds have also made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Otter Tail during the 3rd quarter worth approximately $6,484,000. Barclays PLC increased its position in shares of Otter Tail by 359.8% during the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock worth $5,514,000 after acquiring an additional 55,210 shares during the period. Buck Wealth Strategies LLC acquired a new stake in shares of Otter Tail in the fourth quarter valued at $3,982,000. Segall Bryant & Hamill LLC purchased a new position in Otter Tail in the third quarter valued at $2,947,000. Finally, Victory Capital Management Inc. grew its stake in Otter Tail by 100.1% during the 3rd quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider's stock worth $5,590,000 after purchasing an additional 35,783 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Analyst Upgrades and Downgrades

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

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Otter Tail Stock Down 0.3 %

Shares of OTTR traded down $0.22 during midday trading on Tuesday, reaching $82.26. The stock had a trading volume of 221,738 shares, compared to its average volume of 248,994. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. The company's fifty day simple moving average is $78.10 and its two-hundred day simple moving average is $78.72. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 11.47 and a beta of 0.53. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.04. The business 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%. Equities research analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.55%. This is a boost from Otter Tail's previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. Otter Tail's dividend payout ratio (DPR) is 29.29%.

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.