Otter Tail Co. (NASDAQ:OTTR) Position Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,151 shares of the utilities provider's stock after purchasing an additional 3,618 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.05% of Otter Tail worth $1,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Planning Inc purchased a new position in shares of Otter Tail in the fourth quarter valued at approximately $37,000. Crews Bank & Trust purchased a new position in Otter Tail during the fourth quarter worth approximately $81,000. New Age Alpha Advisors LLC purchased a new position in Otter Tail during the fourth quarter worth approximately $94,000. Nisa Investment Advisors LLC lifted its position in Otter Tail by 28.5% during the fourth 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 in the last quarter. Finally, KBC Group NV lifted its position in Otter Tail by 28.7% during the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider's stock worth $119,000 after buying an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Wall Street Analyst Weigh In

Separately, Siebert Williams Shank upgraded Otter Tail from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $82.00 to $83.00 in a research report on Wednesday, May 7th.

Otter Tail Trading Down 0.7%

OTTR stock traded down $0.53 during midday trading on Friday, hitting $76.13. 133,557 shares of the company's stock were exchanged, compared to its average volume of 242,474. The business has a 50-day simple moving average of $78.80 and a two-hundred day simple moving average of $78.62. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.19 billion, a PE ratio of 10.62 and a beta of 0.56. 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 posted its earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.09. The company had revenue of $337.35 million during the quarter, compared to analysts' expectations of $349.70 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 earnings per share. On average, sell-side analysts predict that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a $0.525 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.76%. Otter Tail's payout ratio is presently 29.91%.

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.