Connor Clark & Lunn Investment Management Ltd. Makes New $5.13 Million Investment in Otter Tail Corporation $OTTR

Connor Clark & Lunn Investment Management Ltd. bought a new position in Otter Tail Corporation (NASDAQ:OTTR) in the second quarter, HoldingsChannel.com reports. The fund bought 57,071 shares of the utilities provider’s stock, valued at approximately $5,135,000.

Several other hedge funds have also modified their holdings of OTTR. BlackRock Inc. acquired a new stake in shares of Otter Tail in the second quarter valued at approximately $590,053,000. LSV Asset Management lifted its holdings in Otter Tail by 217.6% during the 4th quarter. LSV Asset Management now owns 536,941 shares of the utilities provider’s stock worth $43,390,000 after buying an additional 367,869 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Otter Tail in the 2nd quarter valued at $32,238,000. Adage Capital Partners GP L.L.C. boosted its position in Otter Tail by 108.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 344,149 shares of the utilities provider’s stock valued at $27,811,000 after buying an additional 179,149 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Otter Tail by 465.2% in the 3rd quarter. Two Sigma Investments LP now owns 137,624 shares of the utilities provider’s stock valued at $11,281,000 after buying an additional 113,276 shares during the period. 61.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OTTR. Siebert Williams Shank downgraded Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Wednesday, May 6th. KeyCorp reiterated a “sector weight” rating on shares of Otter Tail in a report on Monday, June 1st. UBS Group reiterated a “reduce” rating on shares of Otter Tail in a research report on Friday, May 29th. Zacks Research downgraded shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Otter Tail from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $86.00.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $91.68 on Friday. The firm has a fifty day moving average of $91.10 and a two-hundred day moving average of $88.80. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 19.76 and a beta of 0.45. Otter Tail Corporation has a 52 week low of $74.15 and a 52 week high of $95.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.36 and a current ratio of 1.71.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.15. Otter Tail had a return on equity of 14.56% and a net margin of 14.83%.The company had revenue of $334.38 million for the quarter, compared to the consensus estimate of $326.13 million. During the same quarter in the prior year, the business posted $1.85 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Otter Tail has set its FY 2026 guidance at 5.680-6.080 EPS. As a group, equities research analysts predict that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.5775 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.31 annualized dividend and a yield of 2.5%. Otter Tail’s dividend payout ratio is presently 49.78%.

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.