Independent Advisor Alliance Makes New Investment in Otter Tail Corporation $OTTR

Key Points

• Independent Advisor Alliance has invested approximately $340,000 in Otter Tail Corporation by acquiring 4,235 shares during the first quarter.
• Analysts have raised Otter Tail's stock rating from "hold" to "buy," increasing the price target from $82.00 to $83.00.
• Otter Tail is set to pay a quarterly dividend of $0.525 on September 10, with an annualized yield of 2.6%.

Independent Advisor Alliance purchased a new position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,235 shares of the utilities provider's stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Byrne Asset Management LLC increased its holdings in shares of Otter Tail by 54.8% during the first quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider's stock worth $31,000 after buying an additional 137 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Otter Tail in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in shares of Otter Tail in the fourth quarter valued at approximately $36,000. AdvisorNet Financial Inc raised its stake in shares of Otter Tail by 120.0% in the first quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider's stock valued at $44,000 after acquiring an additional 300 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of Otter Tail in the first quarter valued at approximately $54,000. Institutional investors own 61.32% of the company's stock.

Otter Tail Price Performance

Shares of Otter Tail stock traded down $0.08 during midday trading on Thursday, reaching $83.09. The company had a trading volume of 172,904 shares, compared to its average volume of 212,690. 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 $3.48 billion, a price-to-earnings ratio of 12.22 and a beta of 0.56. The stock has a fifty day simple moving average of $78.83 and a 200 day simple moving average of $79.03. Otter Tail Corporation has a 1-year low of $71.66 and a 1-year high of $92.51.

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, beating analysts' consensus estimates of $1.74 by $0.11. The business had revenue of $333.04 million during the quarter, compared to analyst estimates of $329.60 million. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. Otter Tail's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. As a group, equities research analysts forecast that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Siebert Williams Shank upgraded shares of Otter Tail from a "hold" rating to a "buy" rating and lifted their target price for the company from $82.00 to $83.00 in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $83.00.

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.