Shares of Otter Tail Co. (NASDAQ:OTTR) have been given an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating. Otter Tail’s rating score has declined by 28.8% in the last three months as a result of various analysts’ ratings changes.
Brokerages have set a 12-month consensus price target of $44.00 for the company, according to Zacks. Zacks has also assigned Otter Tail an industry rank of 218 out of 265 based on the ratings given to related companies.
A number of equities research analysts recently commented on OTTR shares. Zacks Investment Research upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, November 7th. BidaskClub lowered shares of Otter Tail from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Finally, Sidoti lowered shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a report on Monday, January 8th.
Otter Tail (NASDAQ:OTTR) traded up $0.40 on Wednesday, reaching $40.75. 80,092 shares of the company’s stock traded hands, compared to its average volume of 102,649. The company has a current ratio of 0.93, a quick ratio of 0.59 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1,608.84, a price-to-earnings ratio of 22.39 and a beta of 0.74. Otter Tail has a 12 month low of $35.65 and a 12 month high of $48.65.
Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, February 12th. The utilities provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Otter Tail had a net margin of 8.53% and a return on equity of 10.73%. The business had revenue of $206.70 million for the quarter, compared to analyst estimates of $207.30 million. During the same period last year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. research analysts forecast that Otter Tail will post 1.9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Thursday, February 15th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from Otter Tail’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, February 14th. Otter Tail’s dividend payout ratio (DPR) is presently 73.63%.
In related news, CFO Kevin G. Moug sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $40.55, for a total transaction of $60,825.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC bought a new position in Otter Tail in the third quarter valued at $107,000. Ameritas Investment Partners Inc. grew its position in Otter Tail by 9.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 309 shares in the last quarter. Amalgamated Bank bought a new position in Otter Tail in the third quarter valued at $212,000. Ellington Management Group LLC bought a new position in Otter Tail in the fourth quarter valued at $244,000. Finally, Raymond James & Associates bought a new position in Otter Tail in the fourth quarter valued at $252,000. 42.14% of the stock is owned by institutional investors and hedge funds.
Otter Tail Company Profile
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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