Otter Tail Co. (NASDAQ:OTTR) Holdings Raised by Quest Partners LLC

Quest Partners LLC grew its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 15.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,429 shares of the utilities provider’s stock after acquiring an additional 1,694 shares during the quarter. Quest Partners LLC’s holdings in Otter Tail were worth $971,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Atticus Wealth Management LLC purchased a new stake in shares of Otter Tail during the second quarter valued at $33,000. Hoese & Co LLP purchased a new stake in shares of Otter Tail during the third quarter valued at $39,000. Allworth Financial LP lifted its holdings in shares of Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC lifted its stake in Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 208 shares in the last quarter. Finally, Quarry LP lifted its stake in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 634 shares in the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Trading Down 0.4 %

Shares of NASDAQ OTTR opened at $79.65 on Thursday. Otter Tail Co. has a one year low of $73.43 and a one year high of $100.84. The firm has a market capitalization of $3.33 billion, a PE ratio of 11.00 and a beta of 0.52. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $78.73 and a two-hundred day moving average price of $85.34.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 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 analyst estimates of $362.20 million. During the same period last year, the company posted $2.19 EPS. As a group, analysts predict that Otter Tail Co. will post 7.01 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is presently 25.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OTTR. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

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.