Wall Street Zen downgraded shares of Otter Tail (NASDAQ:OTTR – Free Report) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.
A number of other analysts have also recently commented on the stock. Siebert Williams Shank upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Wednesday. Weiss Ratings lowered shares of Otter Tail from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $91.00.
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Otter Tail Price Performance
Shares of NASDAQ OTTR opened at $78.44 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.36 and a current ratio of 1.37. The company has a market cap of $3.29 billion, a PE ratio of 18.72 and a beta of 0.42. The business has a 50-day simple moving average of $88.59 and a two-hundred day simple moving average of $88.69. Otter Tail has a fifty-two week low of $77.79 and a fifty-two week high of $95.09.
Otter Tail (NASDAQ:OTTR – Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.14). Otter Tail had a return on equity of 13.41% and a net margin of 13.45%. The business had revenue of $320.51 million for the quarter, compared to analysts’ expectations of $327.87 million. During the same quarter in the previous year, the firm posted $1.86 EPS. Otter Tail’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts expect that Otter Tail will post 5.96 EPS for the current fiscal year.
Otter Tail Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a $0.5775 dividend. This represents a $2.31 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 13th. Otter Tail’s dividend payout ratio is presently 55.13%.
Institutional Investors Weigh In On Otter Tail
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Next Level Wealth Planning LLC acquired a new position in shares of Otter Tail in the 3rd quarter valued at about $25,000. Security National Bank of Sioux City Iowa IA acquired a new stake in Otter Tail during the second quarter worth about $27,000. Jones Financial Companies Lllp acquired a new stake in Otter Tail during the second quarter worth about $39,000. C M Bidwell & Associates Ltd. acquired a new stake in Otter Tail during the second quarter worth about $50,000. Finally, Continuum Advisory LLC acquired a new stake in Otter Tail during the second quarter worth about $52,000. 61.32% of the stock is owned by institutional investors and hedge funds.
Otter Tail Company Profile
Otter Tail Corporation is a diversified company headquartered in Fergus Falls, Minnesota. Through its electric utility subsidiary, Otter Tail Power Company, it generates, transmits and distributes electricity to residential, commercial, industrial and agricultural customers.
Otter Tail Power Company serves customers across portions of western Minnesota, eastern North Dakota and northeastern South Dakota. Its generation portfolio includes coal, natural gas, wind and other energy resources, supporting the company’s role as a regional provider of electric power and related utility services.
Beyond its utility operations, Otter Tail Corporation owns manufacturing businesses that produce fabricated metal components, plastic products and other specialized goods.
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