Otter Tail (NASDAQ:OTTR) Trading Up 6.3%

Otter Tail Co. (NASDAQ:OTTR) shares were up 6.3% during trading on Tuesday . The stock traded as high as $97.00 and last traded at $96.34. Approximately 37,815 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 243,156 shares. The stock had previously closed at $90.66.

Otter Tail Price Performance

The company has a quick ratio of 1.36, a current ratio of 1.84 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $3.83 billion, a PE ratio of 13.11 and a beta of 0.56. The stock has a 50-day moving average price of $84.89 and a 200 day moving average price of $83.66.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.03. Otter Tail had a net margin of 21.81% and a return on equity of 21.64%. The business had revenue of $314.31 million for the quarter, compared to analyst estimates of $300.60 million. During the same quarter last year, the business earned $1.00 earnings per share. Equities analysts forecast that Otter Tail Co. will post 5.28 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.468 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.04%. Otter Tail’s payout ratio is currently 26.71%.

Institutional Investors Weigh In On Otter Tail

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its position in Otter Tail by 32.9% during the fourth quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock worth $50,000 after buying an additional 146 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Otter Tail during the 3rd quarter valued at about $58,000. GAMMA Investing LLC acquired a new position in shares of Otter Tail during the 4th quarter valued at about $62,000. Blue Trust Inc. increased its position in Otter Tail by 53.9% during the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $88,000 after purchasing an additional 362 shares during the last quarter. Finally, Financial Perspectives Inc purchased a new position in Otter Tail during the fourth quarter worth about $88,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

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.