Royal Bank of Canada Purchases 41,924 Shares of Otter Tail Corporation $OTTR

Royal Bank of Canada raised its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 30.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,161 shares of the utilities provider’s stock after purchasing an additional 41,924 shares during the period. Royal Bank of Canada’s holdings in Otter Tail were worth $15,637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Otter Tail by 10.5% during the 4th quarter. Allworth Financial LP now owns 1,342 shares of the utilities provider’s stock worth $108,000 after buying an additional 127 shares during the last quarter. Lido Advisors LLC grew its position in Otter Tail by 2.8% in the fourth quarter. Lido Advisors LLC now owns 4,737 shares of the utilities provider’s stock valued at $387,000 after acquiring an additional 128 shares during the last quarter. WINTON GROUP Ltd raised its stake in Otter Tail by 1.1% during the fourth quarter. WINTON GROUP Ltd now owns 14,554 shares of the utilities provider’s stock worth $1,176,000 after acquiring an additional 155 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Otter Tail by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,592 shares of the utilities provider’s stock worth $775,000 after acquiring an additional 169 shares during the last quarter. Finally, Evolve Private Wealth LLC lifted its holdings in shares of Otter Tail by 3.8% in the first quarter. Evolve Private Wealth LLC now owns 4,772 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 175 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Stock Performance

Shares of OTTR stock opened at $93.79 on Friday. The business’s 50-day moving average price is $89.79 and its 200-day moving average price is $88.36. Otter Tail Corporation has a 12 month low of $74.15 and a 12 month high of $95.00. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 20.21 and a beta of 0.45. The company has a current ratio of 1.71, a quick ratio of 1.64 and a debt-to-equity ratio of 0.60.

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

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.5775 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.31 annualized dividend and a dividend yield of 2.5%. Otter Tail’s dividend payout ratio (DPR) is presently 49.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group reaffirmed a “reduce” rating on shares of Otter Tail in a report on Friday, May 29th. KeyCorp reissued a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. Zacks Research lowered shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Siebert Williams Shank cut shares of Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Otter Tail from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $86.00.

Otter Tail Company 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.