State of Alaska Department of Revenue Has $1.75 Million Stock Position in Otter Tail Co. (NASDAQ:OTTR)

State of Alaska Department of Revenue cut its stake in Otter Tail Co. (NASDAQ:OTTR) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,728 shares of the utilities provider’s stock after selling 142 shares during the period. State of Alaska Department of Revenue’s holdings in Otter Tail were worth $1,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in Otter Tail by 1.1% in the third quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock valued at $124,941,000 after buying an additional 18,109 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Otter Tail by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,130 shares of the utilities provider’s stock valued at $39,794,000 after purchasing an additional 3,425 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Otter Tail during the 3rd quarter valued at about $6,484,000. Whittier Trust Co. boosted its position in shares of Otter Tail by 4.6% during the 3rd quarter. Whittier Trust Co. now owns 81,749 shares of the utilities provider’s stock valued at $6,388,000 after purchasing an additional 3,609 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in Otter Tail by 14.4% during the third quarter. Edgestream Partners L.P. now owns 77,444 shares of the utilities provider’s stock worth $6,053,000 after purchasing an additional 9,749 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of OTTR opened at $79.92 on Wednesday. The stock has a 50-day moving average of $76.60 and a 200-day moving average of $80.25. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The company has a market cap of $3.34 billion, a PE ratio of 11.04 and a beta of 0.57.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Friday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s payout ratio is 25.83%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The 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 markets.