Otter Tail (NASDAQ:OTTR) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Otter Tail (NASDAQ:OTTR) from a sell rating to a hold rating in a research report released on Thursday.

Separately, Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Otter Tail Trading Up 0.9 %

Shares of Otter Tail stock opened at $80.38 on Thursday. The company has a fifty day simple moving average of $78.61 and a 200-day simple moving average of $85.46. Otter Tail has a 12-month low of $73.43 and a 12-month high of $100.84. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 11.10 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter in the prior year, the firm posted $2.19 earnings per share. On average, equities analysts forecast that Otter Tail will post 7.01 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio is currently 25.83%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OTTR. Atticus Wealth Management LLC purchased a new position in shares of Otter Tail during the second quarter worth about $33,000. Hoese & Co LLP acquired a new stake in Otter Tail during the 3rd quarter worth approximately $39,000. Allworth Financial LP grew its stake in shares of Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares during the period. Finally, Quarry LP lifted its holdings in shares of Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 634 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The 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 markets.