Inspire Investing LLC Makes New $516,000 Investment in Otter Tail Corporation $OTTR

Inspire Investing LLC acquired a new stake in Otter Tail Corporation (NASDAQ:OTTR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,297 shares of the utilities provider’s stock, valued at approximately $516,000.

A number of other hedge funds have also recently bought and sold shares of OTTR. HighMark Wealth Management LLC purchased a new stake in Otter Tail in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC lifted its stake in shares of Otter Tail by 44.0% during the 3rd quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 132 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Otter Tail during the second quarter worth $53,000. Allworth Financial LP grew its position in shares of Otter Tail by 84.3% in the second quarter. Allworth Financial LP now owns 1,198 shares of the utilities provider’s stock valued at $92,000 after purchasing an additional 548 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its position in 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 buying an additional 800 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Wall Street Analysts Forecast Growth

OTTR has been the topic of a number of research analyst reports. Weiss Ratings raised Otter Tail from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Zacks Research upgraded shares of Otter Tail to a “hold” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Otter Tail currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Otter Tail Stock Performance

NASDAQ OTTR opened at $82.44 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.57 and a quick ratio of 2.82. Otter Tail Corporation has a 1-year low of $71.66 and a 1-year high of $86.48. The firm has a market capitalization of $3.46 billion, a P/E ratio of 12.43 and a beta of 0.57. The business’s 50-day simple moving average is $81.83 and its 200-day simple moving average is $80.72.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Tuesday, November 4th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.06. Otter Tail had a net margin of 21.48% and a return on equity of 15.96%. The firm had revenue of $325.56 million during the quarter, compared to the consensus estimate of $337.40 million. During the same quarter in the prior year, the company earned $2.03 EPS. The company’s revenue was down 3.7% on a year-over-year basis. Equities analysts predict that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.10 annualized dividend and a yield of 2.5%. Otter Tail’s dividend payout ratio (DPR) is 31.67%.

About Otter Tail

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.