Nisa Investment Advisors LLC Sells 265 Shares of Otter Tail Corporation (NASDAQ:OTTR)

Nisa Investment Advisors LLC reduced its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 17.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237 shares of the utilities provider’s stock after selling 265 shares during the period. Nisa Investment Advisors LLC’s holdings in Otter Tail were worth $99,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OTTR. Byrne Asset Management LLC boosted its stake in Otter Tail by 54.8% during the first quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider’s stock valued at $31,000 after buying an additional 137 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in shares of Otter Tail in the 4th quarter valued at about $36,000. AdvisorNet Financial Inc boosted its position in shares of Otter Tail by 120.0% during the 1st quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 300 shares during the last quarter. Studio Investment Management LLC purchased a new position in shares of Otter Tail during the fourth quarter worth about $50,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Otter Tail during the first quarter worth about $54,000. Institutional investors own 61.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Siebert Williams Shank raised shares of Otter Tail from a “hold” rating to a “buy” rating and raised their target price for the company from $82.00 to $83.00 in a research note on Wednesday, May 7th.

Otter Tail Stock Up 0.8%

Shares of NASDAQ:OTTR opened at $77.19 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of 11.00 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.62. Otter Tail Corporation has a 52-week low of $71.66 and a 52-week high of $100.84. The firm has a fifty day moving average of $77.88 and a 200 day moving average of $78.47.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. The firm had revenue of $337.35 million during the quarter, compared to analysts’ expectations of $349.70 million. Otter Tail had a return on equity of 17.95% and a net margin of 22.37%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 EPS. As a group, research analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, May 15th. Otter Tail’s payout ratio is currently 29.91%.

Otter Tail Company Profile

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.