Johnson Wealth Management LLC Takes Position in Otter Tail Corporation $OTTR

Johnson Wealth Management LLC purchased a new stake in shares of Otter Tail Corporation (NASDAQ:OTTR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,727 shares of the utilities provider’s stock, valued at approximately $544,000.

A number of other institutional investors have also recently made changes to their positions in OTTR. EverSource Wealth Advisors LLC lifted its position in shares of Otter Tail by 129.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock valued at $30,000 after buying an additional 212 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Otter Tail by 195.7% during the 4th quarter. Hantz Financial Services Inc. now owns 621 shares of the utilities provider’s stock valued at $50,000 after buying an additional 411 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Otter Tail during the 2nd quarter valued at $53,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Otter Tail by 43.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 950 shares of the utilities provider’s stock valued at $77,000 after buying an additional 289 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Otter Tail during the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OTTR. Zacks Research lowered Otter Tail from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. KeyCorp restated a “sector weight” rating on shares of Otter Tail in a report on Monday, June 1st. Siebert Williams Shank cut Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Wednesday, May 6th. UBS Group reiterated a “reduce” rating on shares of Otter Tail in a report on Friday, May 29th. Finally, Weiss Ratings upgraded Otter Tail from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.00.

Otter Tail Stock Performance

OTTR stock opened at $89.60 on Thursday. The company has a market cap of $3.76 billion, a P/E ratio of 13.43 and a beta of 0.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.04 and a quick ratio of 1.64. The stock’s fifty day moving average price is $88.10 and its 200-day moving average price is $86.25. Otter Tail Corporation has a 1 year low of $74.15 and a 1 year high of $92.24.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.31. The company had revenue of $347.03 million for the quarter, compared to the consensus estimate of $339.10 million. Otter Tail had a return on equity of 15.21% and a net margin of 21.34%.Otter Tail’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. On average, equities analysts forecast that Otter Tail Corporation will post 5.48 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a $0.5775 dividend. This represents a $2.31 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, May 15th. Otter Tail’s payout ratio is presently 34.63%.

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.