Otter Tail Corporation (NASDAQ:OTTR) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC boosted its position in Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 883.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,959 shares of the utilities provider's stock after purchasing an additional 61,048 shares during the period. Denali Advisors LLC owned 0.16% of Otter Tail worth $5,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OTTR. Vanguard Group Inc. raised its holdings in Otter Tail by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock worth $389,511,000 after buying an additional 43,186 shares during the last quarter. Northern Trust Corp increased its position in shares of Otter Tail by 15.1% during the fourth quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider's stock valued at $40,288,000 after acquiring an additional 71,601 shares during the last quarter. Millennium Management LLC increased its position in shares of Otter Tail by 13.5% during the fourth quarter. Millennium Management LLC now owns 411,281 shares of the utilities provider's stock valued at $30,369,000 after acquiring an additional 48,888 shares during the last quarter. Invesco Ltd. increased its position in shares of Otter Tail by 49.6% during the fourth quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider's stock valued at $21,513,000 after acquiring an additional 96,573 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Otter Tail by 3.9% during the fourth quarter. Gamco Investors INC. ET AL now owns 273,692 shares of the utilities provider's stock valued at $20,209,000 after acquiring an additional 10,250 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Analyst Ratings Changes

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

Otter Tail Trading Up 0.8%

Shares of NASDAQ OTTR traded up $0.63 during midday trading on Friday, reaching $77.19. The company had a trading volume of 263,897 shares, compared to its average volume of 240,527. The firm's fifty day moving average price is $77.88 and its 200-day moving average price is $78.50. The stock has a market cap of $3.23 billion, a PE ratio of 11.00 and a beta of 0.54. The company has a quick ratio of 2.03, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. Otter Tail Corporation has a one year low of $71.66 and a one year high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its earnings results on Monday, May 5th. The utilities provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.53 by $0.09. Otter Tail had a return on equity of 17.95% and a net margin of 22.37%. The business had revenue of $337.35 million for the quarter, compared to the consensus estimate of $349.70 million. During the same period last year, the business posted $1.77 EPS. The company's revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a $0.525 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.10 annualized dividend and a yield of 2.72%. Otter Tail's dividend payout ratio is currently 29.91%.

Otter Tail 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.