6,727 Shares in Otter Tail Corporation $OTTR Purchased by Johnson Wealth Management LLC

Johnson Wealth Management LLC acquired a new position in Otter Tail Corporation (NASDAQ:OTTR) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 6,727 shares of the utilities provider’s stock, valued at approximately $544,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund raised its position in Otter Tail by 1.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 22,205 shares of the utilities provider’s stock valued at $1,794,000 after purchasing an additional 305 shares during the period. Deutsche Bank AG grew its stake in shares of Otter Tail by 3.7% during the fourth quarter. Deutsche Bank AG now owns 35,017 shares of the utilities provider’s stock valued at $2,830,000 after buying an additional 1,248 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Otter Tail by 17.1% during the fourth quarter. Franklin Resources Inc. now owns 36,993 shares of the utilities provider’s stock valued at $2,989,000 after buying an additional 5,395 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Otter Tail by 14.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,435 shares of the utilities provider’s stock valued at $843,000 after buying an additional 1,300 shares during the last quarter. Finally, Vestcor Inc grew its stake in shares of Otter Tail by 67.4% during the fourth quarter. Vestcor Inc now owns 4,969 shares of the utilities provider’s stock valued at $402,000 after buying an additional 2,000 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Up 0.4%

Shares of NASDAQ OTTR opened at $89.60 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $3.76 billion, a PE ratio of 13.43 and a beta of 0.45. The stock’s fifty day simple moving average is $88.10 and its two-hundred day simple moving average is $86.25. Otter Tail Corporation has a 12-month low of $74.15 and a 12-month high of $92.24.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.31. The business had revenue of $347.03 million for the quarter, compared to analysts’ expectations of $339.10 million. Otter Tail had a return on equity of 15.21% and a net margin of 21.34%.The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. As a group, analysts expect that Otter Tail Corporation will post 5.48 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, May 15th. Otter Tail’s dividend payout ratio (DPR) is 34.63%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Siebert Williams Shank cut Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Wednesday, May 6th. KeyCorp reissued a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. UBS Group reissued a “reduce” rating on shares of Otter Tail in a research note on Friday, May 29th. Zacks Research cut Otter Tail from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings raised Otter Tail from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Otter Tail has a consensus rating of “Hold” and a consensus price target of $86.00.

Otter Tail Company Profile

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.