Denali Advisors LLC Increases Holdings in Otter Tail Corporation $OTTR

Key Points

• Denali Advisors LLC increased its stake in Otter Tail Corporation by 16.5%, owning a total of 79,175 shares valued at approximately $6.1 million.
• Analysts have given Otter Tail a consensus rating of "Hold" with an average price target of $83.00, following recent upgrades from Zacks Research and Weiss Ratings.
• Otter Tail reported $1.85 EPS for the latest quarter, beating estimates, but faced a 2.7% decrease in revenue year-over-year.

Denali Advisors LLC increased its stake in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 16.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,175 shares of the utilities provider's stock after buying an additional 11,216 shares during the quarter. Denali Advisors LLC owned about 0.19% of Otter Tail worth $6,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System raised its position in Otter Tail by 1.2% in the second quarter. Maryland State Retirement & Pension System now owns 12,315 shares of the utilities provider's stock valued at $949,000 after purchasing an additional 149 shares during the period. Xponance Inc. raised its position in Otter Tail by 5.1% in the first quarter. Xponance Inc. now owns 3,097 shares of the utilities provider's stock valued at $249,000 after purchasing an additional 151 shares during the period. D.A. Davidson & CO. raised its position in Otter Tail by 3.6% in the second quarter. D.A. Davidson & CO. now owns 6,384 shares of the utilities provider's stock valued at $492,000 after purchasing an additional 223 shares during the period. Avantax Advisory Services Inc. raised its position in Otter Tail by 3.4% in the first quarter. Avantax Advisory Services Inc. now owns 6,964 shares of the utilities provider's stock valued at $560,000 after purchasing an additional 228 shares during the period. Finally, Financial Engines Advisors L.L.C. raised its position in Otter Tail by 1.1% in the first quarter. Financial Engines Advisors L.L.C. now owns 22,881 shares of the utilities provider's stock valued at $1,839,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 61.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OTTR shares. Zacks Research upgraded Otter Tail to a "hold" rating in a research report on Friday, October 17th. Weiss Ratings restated a "hold (c+)" rating on shares of Otter Tail in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Otter Tail presently has a consensus rating of "Hold" and an average price target of $83.00.

Otter Tail Price Performance

OTTR stock opened at $78.21 on Wednesday. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3.28 billion, a PE ratio of 11.50 and a beta of 0.54. Otter Tail Corporation has a 12-month low of $71.66 and a 12-month high of $88.36. The business's fifty day moving average price is $81.77 and its 200 day moving average price is $79.34.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $329.60 million. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.The company's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 EPS. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, sell-side analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, August 15th. Otter Tail's 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.

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