Bruderman Asset Management LLC increased its holdings in Otter Tail Co. (NASDAQ:OTTR) by 125.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,550 shares of the utilities provider’s stock after purchasing an additional 1,417 shares during the quarter. Bruderman Asset Management LLC’s holdings in Otter Tail were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Institutional & Family Asset Management LLC purchased a new position in Otter Tail in the 1st quarter worth $101,000. Perigon Wealth Management LLC raised its position in Otter Tail by 70.4% in the 1st quarter. Perigon Wealth Management LLC now owns 3,352 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 1,385 shares during the period. Wealth Alliance Advisory Group LLC purchased a new position in Otter Tail in the 1st quarter worth $208,000. SG Americas Securities LLC raised its position in Otter Tail by 105.5% in the 1st quarter. SG Americas Securities LLC now owns 6,605 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 3,391 shares during the period. Finally, GWM Advisors LLC purchased a new position in Otter Tail in the 2nd quarter worth $336,000. Institutional investors own 42.75% of the company’s stock.
OTTR has been the topic of a number of analyst reports. ValuEngine cut shares of Otter Tail from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. BidaskClub cut shares of Otter Tail from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Williams Capital cut shares of Otter Tail from a “hold” rating to a “sell” rating and set a $42.00 price objective on the stock. in a research report on Thursday, May 31st. Finally, Zacks Investment Research cut shares of Otter Tail from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Otter Tail has an average rating of “Hold” and a consensus price target of $45.67.
OTTR stock opened at $48.60 on Monday. Otter Tail Co. has a 12-month low of $39.00 and a 12-month high of $49.75. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 26.13 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 1.44.
Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 6th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Otter Tail had a net margin of 9.09% and a return on equity of 11.74%. The firm had revenue of $226.30 million for the quarter, compared to analysts’ expectations of $224.80 million. During the same quarter in the previous year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. equities analysts predict that Otter Tail Co. will post 2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Wednesday, August 15th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Tuesday, August 14th. Otter Tail’s payout ratio is 72.04%.
Otter Tail Profile
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.
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