Envestnet Portfolio Solutions Inc. Invests $302,000 in Otter Tail Corporation $OTTR

Key Points

• Envestnet Portfolio Solutions Inc. invested approximately $302,000 in Otter Tail Corporation, acquiring 3,913 shares during the second quarter of this year.
• Otter Tail recently reported earnings of $1.85 per share, exceeding analyst expectations, though its revenue declined by 2.7% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.525 per share, which yields 2.7% annually, with a payout ratio of 30.88%.

Envestnet Portfolio Solutions Inc. purchased a new position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,913 shares of the utilities provider's stock, valued at approximately $302,000.

Other hedge funds also recently modified their holdings of the company. HighMark Wealth Management LLC acquired a new stake in shares of Otter Tail during the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Otter Tail during the first quarter worth about $34,000. Goodman Advisory Group LLC acquired a new stake in shares of Otter Tail during the first quarter worth about $54,000. Costello Asset Management INC acquired a new stake in shares of Otter Tail during the first quarter worth about $66,000. Finally, Armstrong Advisory Group Inc. raised its position in shares of Otter Tail by 93.0% during the second quarter. Armstrong Advisory Group Inc. now owns 1,660 shares of the utilities provider's stock worth $128,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Up 0.2%

OTTR stock opened at $78.40 on Friday. The company has a quick ratio of 2.57, a current ratio of 3.31 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $81.60 and a two-hundred day moving average price of $79.36. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 11.53 and a beta of 0.54. Otter Tail Corporation has a twelve month low of $71.66 and a twelve month high of $88.36.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.11. The firm had revenue of $333.04 million during 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 business's revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.07 earnings per share. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. Analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, August 15th. Otter Tail's dividend payout ratio (DPR) is currently 30.88%.

Wall Street Analyst Weigh In

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

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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