Otter Tail Co. (NASDAQ:OTTR) Shares Bought by Deutsche Bank AG

Deutsche Bank AG lifted its position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 22.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,330 shares of the utilities provider's stock after purchasing an additional 6,725 shares during the quarter. Deutsche Bank AG owned about 0.09% of Otter Tail worth $2,756,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OTTR. Asset Planning Inc purchased a new stake in Otter Tail during the fourth quarter worth approximately $37,000. Crews Bank & Trust acquired a new position in shares of Otter Tail during the 4th quarter valued at $81,000. New Age Alpha Advisors LLC purchased a new stake in Otter Tail during the 4th quarter worth $94,000. Nisa Investment Advisors LLC increased its holdings in Otter Tail by 28.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock valued at $111,000 after purchasing an additional 333 shares in the last quarter. Finally, KBC Group NV raised its position in Otter Tail by 28.7% in the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider's stock valued at $119,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Up 1.7%

NASDAQ OTTR traded up $1.26 on Tuesday, reaching $77.39. The company had a trading volume of 179,696 shares, compared to its average volume of 242,223. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. Otter Tail Co. has a 1 year low of $71.66 and a 1 year high of $100.84. The firm has a 50-day moving average of $78.55 and a 200-day moving average of $78.56. The firm has a market capitalization of $3.24 billion, a PE ratio of 10.79 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.09. The business had revenue of $337.35 million during the quarter, compared to the consensus estimate of $349.70 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 earnings per share. On average, equities research analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.71%. Otter Tail's dividend payout ratio (DPR) is 29.91%.

Wall Street Analysts Forecast Growth

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

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.