Otter Tail Corporation (OTTR) To Go Ex-Dividend on February 13th

Otter Tail Corporation (NASDAQ:OTTR) declared a quarterly dividend on Wednesday, January 7th. Shareholders of record on Friday, February 13th will be given a dividend of 0.5775 per share by the utilities provider on Tuesday, March 10th. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. This is a 10.0% increase from Otter Tail’s previous quarterly dividend of $0.53.

Otter Tail has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Otter Tail has a payout ratio of 42.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Otter Tail to earn $3.56 per share next year, which means the company should continue to be able to cover its $2.31 annual dividend with an expected future payout ratio of 64.9%.

Otter Tail Stock Performance

Shares of NASDAQ:OTTR opened at $86.93 on Wednesday. The firm has a fifty day simple moving average of $84.88 and a two-hundred day simple moving average of $82.50. The company has a quick ratio of 2.82, a current ratio of 3.57 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.64 billion, a P/E ratio of 13.11 and a beta of 0.55. Otter Tail has a 52 week low of $71.79 and a 52 week high of $90.11.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Otter Tail by 129.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock worth $30,000 after buying an additional 212 shares during the period. GAMMA Investing LLC boosted its holdings in Otter Tail by 44.0% during the 3rd quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 132 shares during the period. Hantz Financial Services Inc. grew its position in Otter Tail by 195.7% in the 4th quarter. Hantz Financial Services Inc. now owns 621 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 411 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Otter Tail in the second quarter worth $53,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Otter Tail by 43.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 950 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 289 shares during the period. Hedge funds and other institutional investors own 61.32% of the company’s stock.

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.