Cetera Investment Advisers Has $873,000 Stock Position in Otter Tail Corporation $OTTR

Cetera Investment Advisers lifted its position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 125.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,856 shares of the utilities provider's stock after buying an additional 6,032 shares during the quarter. Cetera Investment Advisers' holdings in Otter Tail were worth $873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec grew its position in Otter Tail by 168.8% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 223,005 shares of the utilities provider's stock worth $16,467,000 after buying an additional 140,044 shares in the last quarter. Invesco Ltd. grew its position in Otter Tail by 49.6% during the fourth quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider's stock worth $21,513,000 after buying an additional 96,573 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Otter Tail during the 4th quarter worth approximately $5,675,000. Northern Trust Corp lifted its holdings in shares of Otter Tail by 15.1% during the 4th quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider's stock worth $40,288,000 after acquiring an additional 71,601 shares during the period. Finally, Denali Advisors LLC lifted its holdings in shares of Otter Tail by 883.3% during the 1st quarter. Denali Advisors LLC now owns 67,959 shares of the utilities provider's stock worth $5,462,000 after acquiring an additional 61,048 shares during the period. Institutional investors and hedge funds own 61.32% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Siebert Williams Shank raised shares of Otter Tail from a "hold" rating to a "buy" rating and upped their price target for the stock from $82.00 to $83.00 in a report on Wednesday, May 7th.

Otter Tail Price Performance

Shares of Otter Tail stock traded up $0.21 on Monday, reaching $82.48. 28,613 shares of the stock were exchanged, compared to its average volume of 236,085. The firm's 50 day moving average is $78.51 and its 200-day moving average is $78.88. Otter Tail Corporation has a one year low of $71.66 and a one year high of $92.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31. The firm has a market cap of $3.46 billion, a PE ratio of 12.13 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.11. The company had revenue of $333.04 million during the quarter, compared to the consensus estimate of $329.60 million. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The firm's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 EPS. As a group, analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.10 annualized dividend and a yield of 2.5%. Otter Tail's dividend payout ratio is presently 30.88%.

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.