NewEdge Advisors LLC Purchases 4,311 Shares of Otter Tail Corporation $OTTR

Key Points

• NewEdge Advisors LLC has increased its stake in Otter Tail Corporation by 25.1%, owning 21,502 shares valued at approximately $1.73 million.
• Otter Tail's latest earnings report revealed a net margin of 21.82% and earnings per share of $1.85, exceeding analysts' expectations.
• The company recently declared a quarterly dividend of $0.525 per share, representing an annualized yield of 2.5%.

NewEdge Advisors LLC grew its position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 25.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,502 shares of the utilities provider's stock after purchasing an additional 4,311 shares during the period. NewEdge Advisors LLC owned approximately 0.05% of Otter Tail worth $1,728,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC grew its position in shares of Otter Tail by 54.8% during the 1st quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Otter Tail during the 1st quarter valued at $34,000. Vermillion Wealth Management Inc. purchased a new position in shares of Otter Tail during the 4th quarter valued at $36,000. AdvisorNet Financial Inc grew its position in shares of Otter Tail by 120.0% during the 1st quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 300 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new position in shares of Otter Tail during the 4th quarter valued at $50,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Price Performance

NASDAQ:OTTR traded up $1.24 during midday trading on Thursday, hitting $83.97. The company had a trading volume of 216,802 shares, compared to its average volume of 153,121. Otter Tail Corporation has a 52-week low of $71.66 and a 52-week high of $88.36. The stock's fifty day moving average price is $81.13 and its 200-day moving average price is $79.60. The company has a market capitalization of $3.52 billion, a PE ratio of 12.35 and a beta of 0.57. The company has a quick ratio of 2.57, a current ratio of 3.31 and a debt-to-equity ratio of 0.59.

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

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a $0.525 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.10 annualized dividend and a yield of 2.5%. Otter Tail's payout ratio is 30.88%.

Otter Tail Company 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.