Lifelong Wealth Advisors Inc. Invests $234,000 in Otter Tail Co. (NASDAQ:OTTR)

Lifelong Wealth Advisors Inc. acquired a new stake in Otter Tail Co. (NASDAQ:OTTR) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,164 shares of the utilities provider’s stock, valued at approximately $234,000.

Several other institutional investors have also added to or reduced their stakes in the business. Stifel Financial Corp bought a new stake in shares of Otter Tail in the third quarter valued at approximately $238,000. Assenagon Asset Management S.A. purchased a new position in Otter Tail in the 4th quarter valued at approximately $455,000. Barclays PLC raised its holdings in Otter Tail by 359.8% during the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock valued at $5,514,000 after acquiring an additional 55,210 shares during the period. LPL Financial LLC lifted its position in shares of Otter Tail by 3.2% during the fourth quarter. LPL Financial LLC now owns 59,865 shares of the utilities provider’s stock worth $4,420,000 after acquiring an additional 1,837 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Otter Tail by 2.8% in the fourth quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider’s stock worth $356,000 after acquiring an additional 131 shares during the period. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $79.79 on Wednesday. The stock has a fifty day moving average of $80.08 and a 200-day moving average of $78.60. The stock has a market cap of $3.34 billion, a PE ratio of 11.13 and a beta of 0.49. 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 Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84.

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

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.63%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. Otter Tail’s dividend payout ratio (DPR) is presently 29.29%.

Otter Tail Company 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.