Tudor Investment Corp ET AL Cuts Position in Otter Tail Corporation $OTTR

Tudor Investment Corp ET AL decreased its holdings in shares of Otter Tail Corporation (NASDAQ:OTTR) by 8.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,283 shares of the utilities provider’s stock after selling 13,308 shares during the period. Tudor Investment Corp ET AL owned 0.34% of Otter Tail worth $11,581,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in OTTR. GAMMA Investing LLC grew its stake in shares of Otter Tail by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock worth $35,000 after buying an additional 132 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Otter Tail during the 2nd quarter valued at approximately $53,000. Nisa Investment Advisors LLC raised its stake in Otter Tail by 14.9% during the third quarter. Nisa Investment Advisors LLC now owns 997 shares of the utilities provider’s stock valued at $82,000 after buying an additional 129 shares during the last quarter. HM Payson & Co. bought a new stake in Otter Tail in the third quarter worth $110,000. Finally, Advisory Services Network LLC bought a new stake in Otter Tail in the third quarter worth $122,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Otter Tail from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.00.

Otter Tail Price Performance

OTTR opened at $84.20 on Friday. The company’s 50-day simple moving average is $87.06 and its two-hundred day simple moving average is $83.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.83 and a current ratio of 2.28. The stock has a market capitalization of $3.53 billion, a P/E ratio of 12.84 and a beta of 0.56. Otter Tail Corporation has a 52-week low of $71.79 and a 52-week high of $90.41.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Tuesday, February 17th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. The firm had revenue of $308.10 million during the quarter, compared to analyst estimates of $311.15 million. Otter Tail had a net margin of 21.16% and a return on equity of 15.36%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. As a group, analysts predict that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were given a $0.5775 dividend. This is a boost from Otter Tail’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.31 dividend on an annualized basis and a yield of 2.7%. Otter Tail’s payout ratio is presently 35.21%.

Otter Tail Company 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.