Otter Tail (NASDAQ:OTTR) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Otter Tail Corporation (NASDAQ:OTTR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $86.76 and traded as high as $90.18. Otter Tail shares last traded at $90.05, with a volume of 166,430 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings raised Otter Tail from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Siebert Williams Shank downgraded Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Wednesday, May 6th. UBS Group reaffirmed a “reduce” rating on shares of Otter Tail in a research note on Friday, May 29th. Zacks Research cut shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Otter Tail in a research note on Monday, June 1st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $86.00.

Otter Tail Stock Up 0.6%

The company has a market capitalization of $3.80 billion, a P/E ratio of 13.59 and a beta of 0.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.64 and a current ratio of 2.04. The firm’s fifty day moving average is $88.00 and its 200-day moving average is $86.79.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.42 by $0.31. The business had revenue of $347.03 million during the quarter, compared to the consensus estimate of $339.10 million. Otter Tail had a net margin of 21.34% and a return on equity of 15.21%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. As a group, equities research analysts predict that Otter Tail Corporation will post 5.48 EPS for the current year.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.5775 per share. The ex-dividend date was Friday, May 15th. This represents a $2.31 dividend on an annualized basis and a yield of 2.5%. Otter Tail’s payout ratio is currently 34.63%.

Hedge Funds Weigh In On Otter Tail

A number of institutional investors and hedge funds have recently bought and sold shares of OTTR. Sound Income Strategies LLC grew its holdings in shares of Otter Tail by 248.8% during the first quarter. Sound Income Strategies LLC now owns 286 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Otter Tail by 129.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock valued at $30,000 after buying an additional 212 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Otter Tail in the 4th quarter valued at approximately $31,000. Motiv8 Investments LLC acquired a new stake in Otter Tail during the 4th quarter worth approximately $34,000. Finally, SHP Wealth Management acquired a new stake in Otter Tail during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

About Otter Tail

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.