Otter Tail Co. (NASDAQ:OTTR) announced a quarterly dividend on Monday, November 5th, NASDAQ reports. Stockholders of record on Thursday, November 15th will be paid a dividend of 0.335 per share by the utilities provider on Monday, December 10th. This represents a $1.34 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, November 14th.
Otter Tail has increased its dividend payment by an average of 1.9% per year over the last three years and has raised its dividend every year for the last 4 years. Otter Tail has a dividend payout ratio of 67.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Otter Tail to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 63.8%.
Shares of NASDAQ OTTR traded down $0.17 during trading on Friday, hitting $48.26. The company had a trading volume of 631 shares, compared to its average volume of 75,905. Otter Tail has a fifty-two week low of $39.00 and a fifty-two week high of $49.75. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 26.00 and a beta of 0.54. The company has a quick ratio of 0.90, a current ratio of 1.44 and a debt-to-equity ratio of 0.83.
Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, November 5th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.16. Otter Tail had a net margin of 9.59% and a return on equity of 12.46%. The business had revenue of $227.70 million for the quarter. During the same quarter last year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Otter Tail will post 2 EPS for the current fiscal year.
Separately, BidaskClub downgraded shares of Otter Tail from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.67.
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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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