BidaskClub upgraded shares of Otter Tail (NASDAQ:OTTR) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
A number of other research analysts have also issued reports on the stock. Sidoti lowered shares of Otter Tail from a buy rating to a neutral rating and set a $46.00 target price on the stock. in a research note on Monday, January 8th. Zacks Investment Research upgraded shares of Otter Tail from a hold rating to a buy rating and set a $52.00 target price on the stock in a research note on Tuesday, November 7th. Finally, Williams Capital reiterated a hold rating and issued a $42.00 target price (up from $41.00) on shares of Otter Tail in a research note on Thursday, February 15th. Five equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and an average target price of $44.67.
Otter Tail (OTTR) opened at $40.95 on Wednesday. Otter Tail has a 12 month low of $35.65 and a 12 month high of $48.65. The company has a quick ratio of 0.61, a current ratio of 0.93 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1,638.56, a price-to-earnings ratio of 22.23 and a beta of 0.71.
Otter Tail (NASDAQ:OTTR) last posted its earnings results on Monday, February 12th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Otter Tail had a net margin of 8.53% and a return on equity of 10.77%. 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 EPS. Otter Tail’s revenue was up 5.1% compared to the same quarter last year. equities analysts anticipate that Otter Tail will post 1.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Thursday, February 15th will be issued a $0.335 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This is an increase from Otter Tail’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 3.27%. Otter Tail’s dividend payout ratio is 73.63%.
In other Otter Tail news, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction on Thursday, February 15th. The shares were 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 can be accessed through the SEC website. 1.40% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in Otter Tail in the 3rd quarter valued at $107,000. Ameritas Investment Partners Inc. boosted its holdings in Otter Tail by 9.8% in the 2nd 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 during the period. Amalgamated Bank bought a new stake in Otter Tail in the 3rd quarter valued at $212,000. Murphy Capital Management Inc. bought a new stake in Otter Tail in the 3rd quarter valued at $216,000. Finally, Ellington Management Group LLC bought a new stake in Otter Tail in the 4th quarter valued at $244,000. 41.58% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Otter Tail (OTTR) Stock Rating Upgraded by BidaskClub” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/22/otter-tail-ottr-stock-rating-upgraded-by-bidaskclub.html.
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).
Receive News & Ratings for Otter Tail Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail and related companies with MarketBeat.com's FREE daily email newsletter.