Otter Tail (OTTR) Stock Rating Upgraded by BidaskClub

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.

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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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