17,899 Shares in Otter Tail Corporation $OTTR Bought by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in shares of Otter Tail Corporation (NASDAQ:OTTR) during the second quarter, HoldingsChannel reports. The fund purchased 17,899 shares of the utilities provider’s stock, valued at approximately $1,611,000.

Several other institutional investors have also bought and sold shares of OTTR. Sound Income Strategies LLC increased its holdings in shares of Otter Tail by 248.8% in the 1st quarter. Sound Income Strategies LLC now owns 286 shares of the utilities provider’s stock worth $25,000 after buying an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Otter Tail by 129.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 212 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Otter Tail in the fourth quarter worth about $31,000. Motiv8 Investments LLC purchased a new position in Otter Tail in the fourth quarter worth about $34,000. Finally, Jones Financial Companies Lllp bought a new stake in Otter Tail during the second quarter worth approximately $39,000. Institutional investors own 61.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on OTTR. UBS Group restated a “reduce” rating on shares of Otter Tail in a 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, August 24th. Zacks Research cut shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Otter Tail in a report on Monday, June 1st. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $86.00.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $89.79 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. The stock’s fifty day moving average price is $91.21 and its 200-day moving average price is $88.91. The firm has a market cap of $3.77 billion, a P/E ratio of 19.35 and a beta of 0.44. Otter Tail Corporation has a 12 month low of $74.15 and a 12 month high of $95.09.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.15. Otter Tail had a net margin of 14.83% and a return on equity of 14.56%. The firm had revenue of $334.38 million during the quarter, compared to analysts’ expectations of $326.13 million. During the same quarter in the prior year, the company earned $1.85 EPS. The company’s revenue was up .4% compared to the same quarter last year. On average, equities research analysts expect that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.5775 per share. The ex-dividend date is Friday, August 14th. This represents a $2.31 dividend on an annualized basis and a yield of 2.6%. Otter Tail’s dividend payout ratio is currently 49.78%.

About Otter Tail

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.