AdvisorNet Financial Inc Has $258,000 Holdings in Otter Tail Co. (NASDAQ:OTTR)

AdvisorNet Financial Inc cut its holdings in shares of Otter Tail Co. (NASDAQ:OTTRGet Rating) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,838 shares of the utilities provider’s stock after selling 679 shares during the period. AdvisorNet Financial Inc’s holdings in Otter Tail were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. acquired a new position in Otter Tail during the 1st quarter valued at about $1,216,000. Diversified Trust Co lifted its position in Otter Tail by 25.4% during the 1st quarter. Diversified Trust Co now owns 5,326 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 1,080 shares during the period. Contravisory Investment Management Inc. acquired a new position in Otter Tail during the 1st quarter valued at about $220,000. Qube Research & Technologies Ltd acquired a new position in Otter Tail during the 4th quarter valued at about $1,520,000. Finally, Jackson Creek Investment Advisors LLC lifted its position in Otter Tail by 7.8% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 22,563 shares of the utilities provider’s stock valued at $1,410,000 after purchasing an additional 1,639 shares during the period. 48.13% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Performance

Shares of NASDAQ:OTTR opened at $70.60 on Tuesday. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 11.28 and a beta of 0.43. The firm’s 50 day simple moving average is $74.04 and its 200 day simple moving average is $67.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.13. Otter Tail Co. has a fifty-two week low of $54.14 and a fifty-two week high of $82.46.

Otter Tail (NASDAQ:OTTRGet Rating) last announced its earnings results on Monday, August 1st. The utilities provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.55 by $0.50. The firm had revenue of $400.04 million for the quarter, compared to the consensus estimate of $336.87 million. Otter Tail had a net margin of 18.42% and a return on equity of 25.55%. The business’s quarterly revenue was up 40.1% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. As a group, sell-side analysts forecast that Otter Tail Co. will post 7.08 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were issued a dividend of $0.412 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.65 annualized dividend and a yield of 2.33%. Otter Tail’s dividend payout ratio (DPR) is currently 26.36%.

Analyst Ratings Changes

A number of analysts recently weighed in on OTTR shares. Siebert Williams Shank downgraded shares of Otter Tail from a “hold” rating to a “sell” rating and increased their price target for the company from $62.00 to $64.00 in a research report on Wednesday, August 3rd. StockNews.com upgraded shares of Otter Tail from a “hold” rating to a “buy” rating in a research report on Tuesday, September 13th.

Otter Tail Company Profile

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Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc markets.

See Also

Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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