OneAscent Financial Services LLC Buys New Shares in Otter Tail Corporation $OTTR

OneAscent Financial Services LLC bought a new position in shares of Otter Tail Corporation (NASDAQ:OTTR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,625 shares of the utilities provider’s stock, valued at approximately $2,036,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC grew its position in shares of Otter Tail by 248.8% during the first quarter. Sound Income Strategies LLC now owns 286 shares of the utilities provider’s stock worth $25,000 after buying an additional 204 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Otter Tail by 129.3% in the fourth 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Otter Tail in the fourth quarter valued at approximately $31,000. Motiv8 Investments LLC acquired a new stake in Otter Tail in the fourth quarter valued at approximately $34,000. Finally, SHP Wealth Management purchased a new position in Otter Tail in the fourth quarter worth approximately $40,000. 61.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on OTTR shares. UBS Group reissued a “reduce” rating on shares of Otter Tail in a research report on Friday, May 29th. Weiss Ratings cut shares of Otter Tail from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. KeyCorp reiterated a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. Zacks Research downgraded shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Siebert Williams Shank lowered Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Wednesday, May 6th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Otter Tail currently has an average rating of “Reduce” and an average target price of $86.00.

Otter Tail Stock Down 0.3%

Shares of NASDAQ:OTTR opened at $92.04 on Friday. The stock has a market cap of $3.86 billion, a P/E ratio of 19.84 and a beta of 0.45. The firm has a fifty day moving average price of $90.77 and a 200 day moving average price of $88.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.71 and a quick ratio of 1.36. Otter Tail Corporation has a 1-year low of $74.15 and a 1-year high of $95.09.

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

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, August 14th. Otter Tail’s dividend payout ratio (DPR) is 49.78%.

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.