BidaskClub cut shares of Otter Tail (NASDAQ:OTTR) from a buy rating to a hold rating in a research note released on Tuesday morning.
Separately, Zacks Investment Research cut shares of Otter Tail from a buy rating to a hold rating in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $45.67.
Shares of NASDAQ OTTR traded down $0.11 during mid-day trading on Tuesday, reaching $48.32. 831 shares of the company’s stock traded hands, compared to its average volume of 75,905. The stock has a market capitalization of $1.88 billion, a P/E ratio of 25.89 and a beta of 0.54. Otter Tail has a 1-year low of $39.00 and a 1-year high of $49.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.44 and a quick ratio of 0.90.
Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, November 5th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.16. The firm had revenue of $227.70 million during the quarter. Otter Tail had a net margin of 9.59% and a return on equity of 12.46%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, equities research analysts anticipate that Otter Tail will post 2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 15th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, November 14th. Otter Tail’s dividend payout ratio (DPR) is currently 72.04%.
Several hedge funds and other institutional investors have recently bought and sold shares of OTTR. Bruderman Asset Management LLC grew its stake in Otter Tail by 125.1% during the second quarter. Bruderman Asset Management LLC now owns 2,550 shares of the utilities provider’s stock valued at $121,000 after acquiring an additional 1,417 shares in the last quarter. Cubic Asset Management LLC purchased a new position in Otter Tail during the third quarter valued at approximately $201,000. Bank of Montreal Can grew its stake in Otter Tail by 38.3% during the third quarter. Bank of Montreal Can now owns 4,302 shares of the utilities provider’s stock valued at $206,000 after acquiring an additional 1,192 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Otter Tail during the third quarter valued at approximately $260,000. Finally, GWM Advisors LLC purchased a new position in Otter Tail during the second quarter valued at approximately $336,000. 42.94% of the stock is currently owned by 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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