539,873 Shares in Otter Tail Corporation $OTTR Acquired by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new position in Otter Tail Corporation (NASDAQ:OTTR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 539,873 shares of the utilities provider’s stock, valued at approximately $48,578,000. Caisse de depot et placement du Quebec owned 1.29% of Otter Tail as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its holdings in shares of Otter Tail by 248.8% during the 1st quarter. Sound Income Strategies LLC now owns 286 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 204 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Otter Tail by 129.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Otter Tail during the 4th quarter worth approximately $31,000. Motiv8 Investments LLC acquired a new stake in Otter Tail during the 4th quarter worth approximately $34,000. Finally, Jones Financial Companies Lllp acquired a new stake in Otter Tail during the 2nd quarter worth approximately $39,000. 61.32% of the stock is owned by institutional investors.

Otter Tail Stock Down 0.7%

Shares of OTTR stock opened at $91.68 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.60. Otter Tail Corporation has a 1 year low of $74.15 and a 1 year high of $95.09. The firm’s fifty day moving average price is $91.10 and its two-hundred day moving average price is $88.80. The firm has a market capitalization of $3.85 billion, a P/E ratio of 19.76 and a beta of 0.45.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.15. Otter Tail had a return on equity of 14.56% and a net margin of 14.83%.The business had revenue of $334.38 million for the quarter, compared to analyst estimates of $326.13 million. During the same quarter in the prior year, the company posted $1.85 earnings per share. Otter Tail’s revenue was up .4% on a year-over-year basis. Otter Tail has set its FY 2026 guidance at 5.680-6.080 EPS. On average, equities analysts predict that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a $0.5775 dividend. This represents a $2.31 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th. Otter Tail’s dividend payout ratio is presently 49.78%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group reissued a “reduce” rating on shares of Otter Tail in a research report on Friday, May 29th. Weiss Ratings raised shares of Otter Tail from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. KeyCorp reissued a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. Siebert Williams Shank cut Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded Otter Tail from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Otter Tail presently has an average rating of “Reduce” and a consensus price target of $86.00.

Otter Tail Profile

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.