AlphaQuest LLC Purchases 10,799 Shares of Otter Tail Corporation $OTTR

AlphaQuest LLC grew its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 131.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,044 shares of the utilities provider’s stock after acquiring an additional 10,799 shares during the quarter. AlphaQuest LLC’s holdings in Otter Tail were worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of OTTR. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Otter Tail by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,878 shares of the utilities provider’s stock valued at $1,437,000 after acquiring an additional 375 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Otter Tail during the first quarter valued at approximately $662,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Otter Tail by 51.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,838 shares of the utilities provider’s stock valued at $881,000 after acquiring an additional 3,685 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Otter Tail during the first quarter valued at approximately $54,000. Finally, Monument Capital Management bought a new stake in shares of Otter Tail during the first quarter valued at approximately $216,000. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Up 0.2%

Shares of NASDAQ:OTTR opened at $78.55 on Friday. The company has a market capitalization of $3.29 billion, a PE ratio of 11.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.31 and a quick ratio of 2.57. The business has a fifty day moving average price of $81.53 and a two-hundred day moving average price of $79.39. Otter Tail Corporation has a 1 year low of $71.66 and a 1 year high of $88.36.

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

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, August 15th. Otter Tail’s dividend payout ratio is currently 30.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on OTTR shares. 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 equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Otter Tail presently has a consensus rating of “Hold” 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.