Centiva Capital LP bought a new stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,185 shares of the utilities provider's stock, valued at approximately $718,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Paloma Partners Management Co bought a new stake in shares of Otter Tail in the 3rd quarter worth approximately $487,000. Edgestream Partners L.P. boosted its stake in Otter Tail by 14.4% during the third quarter. Edgestream Partners L.P. now owns 77,444 shares of the utilities provider's stock worth $6,053,000 after buying an additional 9,749 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Otter Tail during the third quarter worth $6,484,000. Martingale Asset Management L P raised its stake in shares of Otter Tail by 7.1% in the 3rd quarter. Martingale Asset Management L P now owns 32,188 shares of the utilities provider's stock valued at $2,516,000 after buying an additional 2,131 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Otter Tail by 4.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,743 shares of the utilities provider's stock worth $683,000 after acquiring an additional 334 shares during the period. 61.32% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on OTTR shares. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th.
Get Our Latest Stock Analysis on Otter Tail
Otter Tail stock opened at $77.68 on Friday. Otter Tail Co. has a 52-week low of $73.43 and a 52-week high of $100.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The stock has a fifty day moving average price of $79.16 and a two-hundred day moving average price of $84.38. The firm has a market capitalization of $3.25 billion, a P/E ratio of 10.73 and a beta of 0.54.
Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.06. The business had revenue of $338.03 million during the quarter, compared to analysts' expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter last year, the company posted $2.19 EPS. As a group, analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.41%. Otter Tail's dividend payout ratio (DPR) is presently 25.83%.
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.
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