Zacks Investment Research upgraded shares of Otter Tail (NASDAQ:OTTR) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $46.00 price objective on the utilities provider’s stock.
According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Otter Tail from a strong-buy rating to a buy rating in a report on Tuesday, December 12th. KeyCorp reiterated a hold rating on shares of Otter Tail in a report on Friday, October 20th. Finally, Sidoti downgraded shares of Otter Tail from a buy rating to a neutral rating and set a $46.00 target price for the company. in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $44.67.
Shares of Otter Tail (OTTR) opened at $42.05 on Wednesday. The stock has a market cap of $1,643.61, a P/E ratio of 23.10 and a beta of 0.71. The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 0.71. Otter Tail has a 1-year low of $35.65 and a 1-year high of $48.65.
Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, February 12th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. The business had revenue of $206.70 million during the quarter, compared to the consensus estimate of $207.30 million. Otter Tail had a net margin of 8.53% and a return on equity of 10.77%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. research analysts forecast that Otter Tail will post 1.9 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Thursday, February 15th will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 3.19%. 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. Otter Tail’s dividend payout ratio (DPR) is 73.63%.
In other Otter Tail news, Director John D. Erickson sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.55, for a total value of $109,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin G. Moug sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $40.55, for a total transaction of $60,825.00. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its position 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 buying an additional 309 shares during the period. Ameriprise Financial Inc. boosted its position in Otter Tail by 8.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,989 shares of the utilities provider’s stock valued at $277,000 after buying an additional 565 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Otter Tail by 5.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,781 shares of the utilities provider’s stock valued at $546,000 after buying an additional 703 shares during the period. UBS Asset Management Americas Inc. boosted its position in Otter Tail by 8.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,173 shares of the utilities provider’s stock valued at $561,000 after buying an additional 1,155 shares during the period. Finally, Sei Investments Co. boosted its position in Otter Tail by 17.4% in the 3rd quarter. Sei Investments Co. now owns 8,414 shares of the utilities provider’s stock valued at $364,000 after buying an additional 1,244 shares during the period. 41.13% of the stock is owned by institutional investors.
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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