Otter Tail Co. (NASDAQ:OTTR)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $48.75 and last traded at $48.37, with a volume of 3600 shares trading hands. The stock had previously closed at $48.40.
OTTR has been the subject of a number of research reports. BidaskClub upgraded Otter Tail from a “hold” rating to a “buy” rating in a research note on Wednesday, March 21st. ValuEngine downgraded Otter Tail from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Zacks Investment Research upgraded Otter Tail from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Friday, May 11th. Finally, Williams Capital downgraded Otter Tail from a “hold” rating to a “sell” rating and set a $42.00 target price for the company. in a research note on Thursday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Otter Tail has a consensus rating of “Hold” and an average price target of $45.67.
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 stock has a market capitalization of $1.92 billion, a PE ratio of 26.02 and a beta of 0.68.
Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, May 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.13. The business had revenue of $241.30 million during the quarter, compared to the consensus estimate of $224.90 million. Otter Tail had a return on equity of 11.57% and a net margin of 9.02%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. research analysts expect that Otter Tail Co. will post 2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 9th. Stockholders of record on Tuesday, May 15th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, May 14th. This represents a $1.34 annualized dividend and a dividend yield of 2.77%. Otter Tail’s dividend payout ratio is presently 72.04%.
In other news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $43.48, for a total transaction of $65,220.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Aperio Group LLC raised its holdings in Otter Tail by 18.6% during the first quarter. Aperio Group LLC now owns 8,334 shares of the utilities provider’s stock worth $361,000 after purchasing an additional 1,309 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Otter Tail by 70.4% during the first quarter. Perigon Wealth Management LLC now owns 3,352 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 1,385 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Otter Tail by 3.2% during the first quarter. New York State Common Retirement Fund now owns 46,224 shares of the utilities provider’s stock worth $2,004,000 after purchasing an additional 1,430 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Otter Tail by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 25,529 shares of the utilities provider’s stock worth $1,135,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Institutional & Family Asset Management LLC bought a new stake in Otter Tail during the first quarter worth approximately $101,000. 42.82% of the stock is currently owned by hedge funds and other institutional investors.
Otter Tail Company Profile
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.
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