Avantax Advisory Services Inc. Increases Position in Otter Tail Co. (NASDAQ:OTTR)

Avantax Advisory Services Inc. increased its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 23.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,736 shares of the utilities provider’s stock after purchasing an additional 1,261 shares during the period. Avantax Advisory Services Inc.’s holdings in Otter Tail were worth $497,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Asset Planning Inc purchased a new position in Otter Tail in the fourth quarter valued at $37,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Otter Tail in the 3rd quarter valued at $39,000. Crews Bank & Trust acquired a new position in shares of Otter Tail in the 4th quarter valued at $81,000. KBC Group NV raised its stake in Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 272 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock valued at $111,000 after acquiring an additional 333 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Performance

Shares of OTTR stock opened at $80.87 on Friday. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 11.28 and a beta of 0.53. Otter Tail Co. has a 1 year low of $71.66 and a 1 year high of $100.84. The stock’s 50-day moving average is $79.69 and its two-hundred day moving average is $78.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The firm had revenue of $303.11 million during the quarter, compared to analysts’ expectations of $314.75 million. Analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio (DPR) is currently 29.29%.

Otter Tail Profile

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.