AXQ Capital LP Purchases Shares of 3,568 Otter Tail Co. (NASDAQ:OTTR)

AXQ Capital LP purchased a new stake in Otter Tail Co. (NASDAQ:OTTR) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 3,568 shares of the utilities provider’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of OTTR. Asset Planning Inc acquired a new stake in Otter Tail in the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB purchased a new stake in Otter Tail during the third quarter valued at about $39,000. Crews Bank & Trust purchased a new stake in Otter Tail during the fourth quarter valued at about $81,000. Nisa Investment Advisors LLC lifted its stake in Otter Tail by 28.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock valued at $111,000 after buying an additional 333 shares in the last quarter. Finally, KBC Group NV lifted its stake in Otter Tail by 28.7% during the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider’s stock valued at $119,000 after buying an additional 358 shares in the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Price Performance

OTTR stock opened at $80.87 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The firm has a market capitalization of $3.39 billion, a PE ratio of 11.28 and a beta of 0.53. The firm has a 50-day moving average of $79.69 and a two-hundred day moving average of $78.52.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The company had revenue of $303.11 million during the quarter, compared to analyst estimates of $314.75 million. On average, analysts forecast that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.60%. Otter Tail’s dividend payout ratio is currently 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.