Otter Tail (NASDAQ:OTTR) Reaches New 52-Week Low – Here’s What Happened

Otter Tail Co. (NASDAQ:OTTR) hit a new 52-week low on Thursday . The company traded as low as $73.22 and last traded at $73.41, with a volume of 43312 shares trading hands. The stock had previously closed at $73.84.

Wall Street Analysts Forecast Growth

OTTR has been the topic of a number of recent research reports. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Price Performance

The stock’s 50 day moving average is $78.52 and its two-hundred day moving average is $82.65. The stock has a market capitalization of $3.06 billion, a PE ratio of 10.11 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same period last year, the business earned $2.19 EPS. As a group, sell-side analysts forecast that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were issued a $0.468 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.56%. Otter Tail’s payout ratio is currently 25.83%.

Institutional Investors Weigh In On Otter Tail

Institutional investors have recently added to or reduced their stakes in the business. Creative Planning grew its position in shares of Otter Tail by 2.2% in the 2nd quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock valued at $550,000 after buying an additional 137 shares during the last quarter. Hancock Whitney Corp grew its position in shares of Otter Tail by 2.9% during the third quarter. Hancock Whitney Corp now owns 4,946 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 139 shares during the last quarter. Foster & Motley Inc. increased its holdings in shares of Otter Tail by 1.5% in the 2nd quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock valued at $863,000 after acquiring an additional 149 shares during the period. Quantinno Capital Management LP raised its position in Otter Tail by 6.6% in the 3rd quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 162 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Otter Tail by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock worth $922,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 61.32% of the company’s stock.

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.