VIRGINIA RETIREMENT SYSTEMS ET Al Has $1.65 Million Stock Position in Otter Tail Corporation $OTTR

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in Otter Tail Corporation (NASDAQ:OTTR) by 36.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,454 shares of the utilities provider’s stock after selling 11,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Otter Tail were worth $1,653,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OTTR. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Otter Tail in the second quarter worth about $53,000. Nisa Investment Advisors LLC boosted its holdings in shares of Otter Tail by 14.9% in the third quarter. Nisa Investment Advisors LLC now owns 997 shares of the utilities provider’s stock worth $82,000 after buying an additional 129 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Otter Tail in the fourth quarter worth about $82,000. Flagship Harbor Advisors LLC acquired a new position in shares of Otter Tail in the fourth quarter worth about $106,000. Finally, USA Financial Formulas boosted its holdings in shares of Otter Tail by 21.1% in the fourth quarter. USA Financial Formulas now owns 1,376 shares of the utilities provider’s stock worth $111,000 after buying an additional 240 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OTTR has been the subject of several research reports. Siebert Williams Shank cut shares of Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 6th. Zacks Research raised shares of Otter Tail from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Otter Tail from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $86.00.

Otter Tail Trading Down 2.6%

NASDAQ:OTTR opened at $87.80 on Friday. Otter Tail Corporation has a 12 month low of $74.15 and a 12 month high of $92.24. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 13.16 and a beta of 0.47. The company has a quick ratio of 1.64, a current ratio of 2.04 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $87.99 and its 200-day moving average is $85.52.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.31. Otter Tail had a net margin of 21.34% and a return on equity of 15.21%. The company had revenue of $347.03 million for the quarter, compared to analyst estimates of $339.10 million. During the same quarter last year, the firm posted $1.62 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Otter Tail Corporation will post 5.48 EPS for the current year.

Otter Tail Announces Dividend

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

Otter Tail 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.