PDT Partners LLC Buys Shares of 27,000 Otter Tail Corporation $OTTR

PDT Partners LLC purchased a new stake in Otter Tail Corporation (NASDAQ:OTTR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 27,000 shares of the utilities provider’s stock, valued at approximately $2,429,000.

A number of other institutional investors also recently modified their holdings of the business. Sound Income Strategies LLC lifted its position in shares of Otter Tail by 248.8% during the 1st quarter. Sound Income Strategies LLC now owns 286 shares of the utilities provider’s stock worth $25,000 after buying an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Otter Tail by 129.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock valued at $30,000 after buying an additional 212 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Otter Tail in the fourth quarter valued at about $31,000. Motiv8 Investments LLC bought a new position in Otter Tail in the fourth quarter valued at about $34,000. Finally, Jones Financial Companies Lllp acquired a new position in Otter Tail during the second quarter worth about $39,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group reissued a “reduce” rating on shares of Otter Tail in a report on Friday, May 29th. Zacks Research cut shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. KeyCorp reissued a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. Weiss Ratings upgraded shares of Otter Tail from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Finally, 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. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Otter Tail has an average rating of “Reduce” and an average price target of $86.00.

Otter Tail Price Performance

Otter Tail stock opened at $92.33 on Thursday. The stock has a 50-day moving average price of $91.02 and a two-hundred day moving average price of $88.76. Otter Tail Corporation has a 12 month low of $74.15 and a 12 month high of $95.09. The company has a market capitalization of $3.88 billion, a PE ratio of 19.90 and a beta of 0.45. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.60.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.66 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $326.13 million. During the same period in the previous year, the business posted $1.85 earnings per share. The business’s quarterly 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. Analysts expect that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Announces Dividend

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%.

About Otter Tail

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.