Otter Tail Co. (NASDAQ:OTTR) has earned an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $49.50.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. TheStreet lowered Otter Tail from a “b-” rating to a “c+” rating in a research report on Thursday, July 9th. Sidoti raised Otter Tail from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $41.00 to $45.00 in a research note on Wednesday, August 5th. Maxim Group reissued a “buy” rating and issued a $50.00 price objective on shares of Otter Tail in a research note on Thursday, August 6th. Finally, BidaskClub downgraded Otter Tail from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 22nd.
A number of hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP raised its stake in Otter Tail by 30.0% during the 2nd quarter. First Trust Advisors LP now owns 1,194,474 shares of the utilities provider’s stock worth $46,334,000 after buying an additional 275,789 shares during the period. Geode Capital Management LLC raised its stake in Otter Tail by 7.9% during the 1st quarter. Geode Capital Management LLC now owns 625,175 shares of the utilities provider’s stock worth $27,795,000 after buying an additional 45,901 shares during the period. Bank of New York Mellon Corp raised its stake in Otter Tail by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 349,248 shares of the utilities provider’s stock worth $13,547,000 after buying an additional 10,156 shares during the period. Gamco Investors INC. ET AL raised its stake in Otter Tail by 5.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 317,233 shares of the utilities provider’s stock worth $12,305,000 after buying an additional 15,233 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in Otter Tail by 115,828.5% during the 2nd quarter. Glenmede Trust Co. NA now owns 207,512 shares of the utilities provider’s stock worth $8,048,000 after buying an additional 207,333 shares during the period. 46.10% of the stock is currently owned by institutional investors and hedge funds.
OTTR stock traded down $0.25 during midday trading on Tuesday, reaching $38.19. 81,205 shares of the stock were exchanged, compared to its average volume of 116,951. The stock has a market capitalization of $1.56 billion, a PE ratio of 17.76 and a beta of 0.32. Otter Tail has a 52 week low of $30.95 and a 52 week high of $57.74. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.15 and a quick ratio of 0.76. The company has a fifty day moving average price of $39.41 and a 200 day moving average price of $42.52.
Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. Otter Tail had a return on equity of 10.93% and a net margin of 9.90%. The firm had revenue of $192.76 million for the quarter, compared to analyst estimates of $204.93 million. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s revenue was down 15.9% on a year-over-year basis. As a group, analysts anticipate that Otter Tail will post 2.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, August 13th. Otter Tail’s dividend payout ratio is 68.20%.
Otter Tail Company Profile
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.
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