Otter Tail Co. (NASDAQ:OTTR) Shares Bought by Barclays PLC

Barclays PLC lifted its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 359.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,553 shares of the utilities provider’s stock after purchasing an additional 55,210 shares during the quarter. Barclays PLC owned about 0.17% of Otter Tail worth $5,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in OTTR. Y Intercept Hong Kong Ltd acquired a new stake in shares of Otter Tail in the 3rd quarter worth about $306,000. MML Investors Services LLC grew its position in Otter Tail by 6.6% in the 3rd quarter. MML Investors Services LLC now owns 5,186 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 321 shares during the last quarter. XTX Topco Ltd bought a new position in Otter Tail in the 3rd quarter worth about $589,000. State Street Corp increased its stake in shares of 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 purchasing an additional 18,109 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Otter Tail during the third quarter valued at approximately $238,000. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Up 0.3 %

Otter Tail stock opened at $75.17 on Friday. Otter Tail Co. has a 52 week low of $73.26 and a 52 week high of $100.84. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 10.38 and a beta of 0.54. The company’s 50-day moving average price is $79.10 and its two-hundred day moving average price is $83.42. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter last year, the business earned $2.19 earnings per share. On average, analysts expect that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.49%. The ex-dividend date was Friday, November 15th. Otter Tail’s dividend payout ratio is presently 25.83%.

Analysts Set New Price Targets

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

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.