Otter Tail (NASDAQ:OTTR) Cut to Hold at StockNews.com

StockNews.com lowered shares of Otter Tail (NASDAQ:OTTRGet Rating) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Separately, Siebert Williams Shank lowered shares of Otter Tail from a hold rating to a sell rating and raised their target price for the company from $62.00 to $64.00 in a research note on Wednesday.

Otter Tail Stock Down 1.7 %

Shares of NASDAQ OTTR opened at $75.74 on Wednesday. The firm has a market capitalization of $3.15 billion, a PE ratio of 12.10 and a beta of 0.46. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.70. Otter Tail has a 1 year low of $52.49 and a 1 year high of $78.83. The firm’s 50-day moving average is $67.08 and its 200-day moving average is $63.92.

Otter Tail (NASDAQ:OTTRGet Rating) last issued its earnings results on Monday, August 1st. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.50. The company had revenue of $400.04 million for the quarter, compared to analyst estimates of $336.87 million. Otter Tail had a net margin of 18.42% and a return on equity of 26.32%. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. Equities analysts expect that Otter Tail will post 6.98 EPS for the current year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be paid a dividend of $0.412 per share. This represents a $1.65 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, August 12th. Otter Tail’s payout ratio is 26.36%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OTTR. Allspring Global Investments Holdings LLC bought a new position in Otter Tail during the 4th quarter worth approximately $1,894,000. CWM LLC bought a new position in Otter Tail during the 4th quarter worth approximately $2,410,000. Qube Research & Technologies Ltd bought a new position in Otter Tail during the 4th quarter worth approximately $1,520,000. Assenagon Asset Management S.A. bought a new position in Otter Tail during the 4th quarter worth approximately $2,314,000. Finally, Bell Bank bought a new position in Otter Tail during the 4th quarter worth approximately $214,000. Institutional investors own 46.58% of the company’s stock.

Otter Tail Company Profile

(Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe 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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