Otter Tail (NASDAQ:OTTR) Downgraded by StockNews.com

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

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

Otter Tail Price Performance

NASDAQ OTTR opened at $75.74 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.69 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $67.08 and a 200 day simple moving average of $63.92. The company has a market cap of $3.15 billion, a P/E ratio of 12.10 and a beta of 0.46. Otter Tail has a 1 year low of $52.49 and a 1 year high of $78.83.

Otter Tail (NASDAQ:OTTRGet Rating) last posted its quarterly earnings data on Monday, August 1st. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.50. The business had revenue of $400.04 million during the quarter, compared to the consensus estimate of $336.87 million. Otter Tail had a net margin of 18.42% and a return on equity of 26.32%. Otter Tail’s quarterly revenue was up 40.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts predict that Otter Tail will post 6.98 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently announced 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 is Friday, August 12th. Otter Tail’s payout ratio is currently 26.36%.

Hedge Funds Weigh In On Otter Tail

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Otter Tail by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 4,441,104 shares of the utilities provider’s stock valued at $277,569,000 after buying an additional 92,114 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Otter Tail by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,032,967 shares of the utilities provider’s stock valued at $64,561,000 after buying an additional 12,769 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Otter Tail by 4.7% in the 1st quarter. First Trust Advisors LP now owns 996,956 shares of the utilities provider’s stock valued at $62,310,000 after buying an additional 44,571 shares in the last quarter. State Street Corp raised its stake in shares of Otter Tail by 2.5% in the 1st quarter. State Street Corp now owns 865,757 shares of the utilities provider’s stock valued at $54,110,000 after buying an additional 21,385 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Otter Tail by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 774,243 shares of the utilities provider’s stock valued at $55,296,000 after buying an additional 16,508 shares in the last quarter. 46.58% of the stock is currently owned by institutional investors and hedge funds.

About Otter Tail

(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.

Featured Stories

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.