Eagle Global Advisors LLC Makes New Investment in Otter Tail Corporation $OTTR

Eagle Global Advisors LLC acquired a new stake in Otter Tail Corporation (NASDAQ:OTTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,480 shares of the utilities provider’s stock, valued at approximately $847,000.

Several other hedge funds also recently added to or reduced their stakes in OTTR. Nisa Investment Advisors LLC raised its position in Otter Tail by 14.9% in the third quarter. Nisa Investment Advisors LLC now owns 997 shares of the utilities provider’s stock valued at $82,000 after purchasing an additional 129 shares during the period. GAMMA Investing LLC increased its position in shares of Otter Tail by 44.0% during the 3rd quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 132 shares during the last quarter. Arizona State Retirement System increased its position in shares of Otter Tail by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 11,135 shares of the utilities provider’s stock worth $913,000 after purchasing an additional 163 shares during the last quarter. Royce & Associates LP raised its holdings in Otter Tail by 0.6% in the 3rd quarter. Royce & Associates LP now owns 31,940 shares of the utilities provider’s stock valued at $2,618,000 after buying an additional 180 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in Otter Tail by 0.9% in the third quarter. Illinois Municipal Retirement Fund now owns 21,900 shares of the utilities provider’s stock valued at $1,795,000 after buying an additional 185 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Otter Tail from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $83.00.

Otter Tail Stock Down 0.3%

Shares of NASDAQ:OTTR opened at $86.92 on Thursday. The firm has a market capitalization of $3.65 billion, a PE ratio of 13.25 and a beta of 0.50. Otter Tail Corporation has a 1 year low of $73.74 and a 1 year high of $92.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.28 and a quick ratio of 1.83. The firm’s 50-day moving average is $87.31 and its two-hundred day moving average is $84.35.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Tuesday, February 17th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.07. The firm had revenue of $308.10 million during the quarter, compared to analysts’ expectations of $311.15 million. Otter Tail had a net margin of 21.16% and a return on equity of 15.36%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 earnings per share. Analysts predict that Otter Tail Corporation will post 5.48 EPS for the current year.

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.