Caisse de depot et placement du Quebec Buys New Holdings in Otter Tail Corporation $OTTR

Caisse de depot et placement du Quebec purchased a new position in shares of Otter Tail Corporation (NASDAQ:OTTR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 539,873 shares of the utilities provider’s stock, valued at approximately $48,578,000.

A number of other institutional investors have also recently bought and sold shares of OTTR. BlackRock Inc. bought a new stake in Otter Tail in the 2nd quarter valued at $590,053,000. Geode Capital Management LLC raised its position in shares of Otter Tail by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,019,262 shares of the utilities provider’s stock valued at $82,385,000 after purchasing an additional 4,164 shares during the period. LSV Asset Management lifted its stake in shares of Otter Tail by 217.6% during the 4th quarter. LSV Asset Management now owns 536,941 shares of the utilities provider’s stock worth $43,390,000 after buying an additional 367,869 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Otter Tail by 31.6% during the 2nd quarter. Bank of America Corp DE now owns 409,157 shares of the utilities provider’s stock worth $31,542,000 after buying an additional 98,243 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Otter Tail during the 2nd quarter worth about $32,238,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OTTR. KeyCorp restated a “sector weight” rating on shares of Otter Tail in a report on Monday, June 1st. Zacks Research cut Otter Tail from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings upgraded Otter Tail from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. UBS Group reaffirmed a “reduce” rating on shares of Otter Tail in a report on Friday, May 29th. Finally, Siebert Williams Shank cut Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $86.00.

Otter Tail Stock Down 0.7%

NASDAQ OTTR opened at $91.68 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 company has a market cap of $3.85 billion, a price-to-earnings ratio of 19.76 and a beta of 0.45. The company has a 50 day moving average of $91.10 and a 200-day moving average of $88.80. Otter Tail Corporation has a 1-year low of $74.15 and a 1-year high of $95.09.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.15. Otter Tail had a return on equity of 14.56% and a net margin of 14.83%.The firm had revenue of $334.38 million for the quarter, compared to analyst estimates of $326.13 million. During the same quarter last year, the company earned $1.85 EPS. The company’s revenue was up .4% on a year-over-year basis. Otter Tail has set its FY 2026 guidance at 5.680-6.080 EPS. On average, equities research analysts expect that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

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