Otter Tail Co. (NASDAQ:OTTR) Holdings Raised by Barclays PLC

Barclays PLC increased its stake in Otter Tail Co. (NASDAQ:OTTR) by 359.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,553 shares of the utilities provider’s stock after purchasing an additional 55,210 shares during the quarter. Barclays PLC’s holdings in Otter Tail were worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hoese & Co LLP purchased a new stake in shares of Otter Tail during the third quarter worth $39,000. Allworth Financial LP increased its position in Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Quarry LP raised its stake in shares of Otter Tail by 1,811.4% during the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 634 shares in the last quarter. KBC Group NV lifted its holdings in shares of Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock valued at $98,000 after buying an additional 272 shares during the last quarter. Finally, Abound Wealth Management grew its stake in shares of Otter Tail by 28,725.0% in the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,149 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $75.17 on Friday. 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 market capitalization of $3.14 billion, a P/E ratio of 10.38 and a beta of 0.54. The business has a 50-day moving average of $79.10 and a two-hundred day moving average of $83.42. Otter Tail Co. has a fifty-two week low of $73.26 and a fifty-two week high of $100.84.

Otter Tail (NASDAQ:OTTR) 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. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The firm had revenue of $338.03 million during the quarter, compared to analysts’ expectations of $362.20 million. During the same quarter in the prior year, the business earned $2.19 earnings per share. On average, equities research analysts predict that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is 25.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th.

About Otter Tail

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.