GSA Capital Partners LLP Purchases New Shares in Otter Tail Corporation $OTTR

GSA Capital Partners LLP bought a new stake in Otter Tail Corporation (NASDAQ:OTTR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,514 shares of the utilities provider’s stock, valued at approximately $1,026,000.

Several other hedge funds have also recently modified their holdings of the stock. Denali Advisors LLC boosted its stake in Otter Tail by 8.8% during the 3rd quarter. Denali Advisors LLC now owns 86,125 shares of the utilities provider’s stock worth $7,060,000 after purchasing an additional 6,950 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Otter Tail by 77.3% in the third quarter. JPMorgan Chase & Co. now owns 605,504 shares of the utilities provider’s stock valued at $49,633,000 after buying an additional 264,009 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Otter Tail by 4.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 25,600 shares of the utilities provider’s stock worth $2,098,000 after buying an additional 1,031 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Otter Tail by 27.5% during the third quarter. Public Sector Pension Investment Board now owns 182,086 shares of the utilities provider’s stock worth $14,926,000 after acquiring an additional 39,226 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Otter Tail by 0.9% during the third quarter. Illinois Municipal Retirement Fund now owns 21,900 shares of the utilities provider’s stock worth $1,795,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $86.60 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.28 and a quick ratio of 2.82. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 13.20 and a beta of 0.55. The stock’s 50-day moving average is $85.49 and its two-hundred day moving average is $82.90. Otter Tail Corporation has a 1-year low of $71.79 and a 1-year high of $90.11.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, February 16th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. Otter Tail had a net margin of 21.16% and a return on equity of 15.36%. The firm had revenue of $308.10 million during the quarter, compared to the consensus estimate of $311.15 million. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. Otter Tail has set its FY 2026 guidance at 5.220-5.620 EPS. Analysts forecast that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a dividend of $0.5775 per share. This is an increase from Otter Tail’s previous quarterly dividend of $0.53. This represents a $2.31 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. Otter Tail’s dividend payout ratio is 34.84%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Otter Tail in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Otter Tail 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.