Otter Tail Co. (NASDAQ:OTTR) Announces Quarterly Dividend of $0.34

Otter Tail Co. (NASDAQ:OTTR) announced a quarterly dividend on Wednesday, May 2nd, NASDAQ reports. Investors of record on Tuesday, May 15th will be given a dividend of 0.335 per share by the utilities provider on Saturday, June 9th. This represents a $1.34 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Monday, May 14th.

Shares of Otter Tail traded up $0.10, hitting $43.60, during mid-day trading on Wednesday, according to MarketBeat Ratings. 1,958 shares of the company traded hands, compared to its average volume of 92,220. Otter Tail has a 1-year low of $43.35 and a 1-year high of $43.70. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.72 billion, a P/E ratio of 23.39 and a beta of 0.63.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, May 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.13. Otter Tail had a net margin of 9.02% and a return on equity of 11.57%. The firm had revenue of $241.30 million for the quarter, compared to the consensus estimate of $224.90 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. research analysts anticipate that Otter Tail will post 2 EPS for the current fiscal year.

In other Otter Tail news, CFO Kevin G. Moug sold 1,500 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $40.55, for a total value of $60,825.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

OTTR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Otter Tail from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, March 7th. BidaskClub upgraded Otter Tail from a “hold” rating to a “buy” rating in a research report on Wednesday, March 21st. Finally, ValuEngine upgraded Otter Tail from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.67.

About Otter Tail

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.

Dividend History for Otter Tail (NASDAQ:OTTR)

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