15,802 Shares in Otter Tail Co. (NASDAQ:OTTR) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in shares of Otter Tail Co. (NASDAQ:OTTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,802 shares of the utilities provider’s stock, valued at approximately $1,167,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its stake in shares of Otter Tail by 1.1% during the 3rd quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock worth $124,941,000 after purchasing an additional 18,109 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Otter Tail by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 536,545 shares of the utilities provider’s stock worth $39,618,000 after purchasing an additional 27,415 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Otter Tail by 2.3% during the fourth quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider’s stock valued at $29,916,000 after buying an additional 8,993 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Otter Tail by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 225,987 shares of the utilities provider’s stock valued at $16,687,000 after buying an additional 9,088 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Otter Tail by 61.1% in the 4th quarter. Victory Capital Management Inc. now owns 115,211 shares of the utilities provider’s stock valued at $8,507,000 after buying an additional 43,693 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Down 1.2 %

NASDAQ OTTR opened at $82.35 on Friday. Otter Tail Co. has a 52 week low of $71.66 and a 52 week high of $100.84. The company has a 50 day moving average price of $79.53 and a 200 day moving average price of $78.58. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.45 billion, a PE ratio of 11.49 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million. As a group, sell-side analysts forecast that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $0.525 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.55%. Otter Tail’s dividend payout ratio (DPR) is 29.29%.

Otter Tail 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.