Eagle Global Advisors LLC Invests $847,000 in Otter Tail Corporation $OTTR

Eagle Global Advisors LLC bought a new position in shares of Otter Tail Corporation (NASDAQ:OTTR) during the fourth quarter, Holdings Channel.com reports. The fund bought 10,480 shares of the utilities provider’s stock, valued at approximately $847,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in Otter Tail by 14.9% in the third quarter. Nisa Investment Advisors LLC now owns 997 shares of the utilities provider’s stock worth $82,000 after acquiring an additional 129 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Otter Tail by 44.0% in the 3rd quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 132 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Otter Tail by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 11,135 shares of the utilities provider’s stock valued at $913,000 after purchasing an additional 163 shares in the last quarter. Royce & Associates LP lifted its position in shares of Otter Tail by 0.6% during the 3rd quarter. Royce & Associates LP now owns 31,940 shares of the utilities provider’s stock worth $2,618,000 after purchasing an additional 180 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Otter Tail by 0.9% during the third quarter. Illinois Municipal Retirement Fund now owns 21,900 shares of the utilities provider’s stock worth $1,795,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Otter Tail from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Otter Tail currently has an average rating of “Hold” and an average target price of $83.00.

Otter Tail Stock Performance

NASDAQ OTTR opened at $86.92 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.28 and a quick ratio of 1.83. Otter Tail Corporation has a 1 year low of $73.74 and a 1 year high of $92.24. The company has a market capitalization of $3.65 billion, a PE ratio of 13.25 and a beta of 0.50. The company has a fifty day moving average of $87.31 and a two-hundred day moving average of $84.35.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Tuesday, February 17th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. Otter Tail had a return on equity of 15.36% and a net margin of 21.16%.The business had revenue of $308.10 million for the quarter, compared to analysts’ expectations of $311.15 million. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts expect that Otter Tail Corporation will post 5.48 earnings per share for the current year.

Otter Tail Profile

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.