Bokf Na Has $572,000 Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Bokf Na lessened its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,851 shares of the utilities provider’s stock after selling 1,273 shares during the quarter. Bokf Na’s holdings in Otter Tail were worth $572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTTR. Asset Planning Inc bought a new position in shares of Otter Tail during the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Otter Tail in the third quarter valued at approximately $39,000. Crews Bank & Trust bought a new stake in shares of Otter Tail during the fourth quarter worth $81,000. New Age Alpha Advisors LLC acquired a new stake in shares of Otter Tail during the fourth quarter worth $94,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Otter Tail by 28.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 333 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Stock Up 0.1 %

OTTR stock opened at $76.74 on Friday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 10.70 and a beta of 0.56. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84. The business has a 50 day moving average price of $79.51 and a two-hundred day moving average price of $78.72. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.09. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $337.35 million during the quarter, compared to analysts’ expectations of $349.70 million. During the same period last year, the business earned $1.77 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. Analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, May 15th. Otter Tail’s payout ratio is currently 29.29%.

Analyst Ratings Changes

Separately, Siebert Williams Shank upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and lifted their price target for the company from $82.00 to $83.00 in a research note on Wednesday.

About Otter Tail

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.