Otter Tail (NASDAQ:OTTR) Upgraded at StockNews.com

StockNews.com upgraded shares of Otter Tail (NASDAQ:OTTRGet Rating) from a hold rating to a buy rating in a research report sent to investors on Friday.

OTTR has been the topic of several other research reports. Sidoti lowered shares of Otter Tail from a buy rating to a neutral rating and set a $72.00 target price on the stock. in a report on Thursday, December 16th. Zacks Investment Research lowered shares of Otter Tail from a buy rating to a hold rating in a report on Tuesday, December 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Otter Tail has an average rating of Buy and an average target price of $70.67.

OTTR opened at $63.42 on Friday. The firm’s 50-day simple moving average is $62.04 and its 200-day simple moving average is $63.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.57 and a current ratio of 0.95. Otter Tail has a twelve month low of $45.78 and a twelve month high of $71.89. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 14.99 and a beta of 0.49.

Otter Tail (NASDAQ:OTTRGet Rating) last posted its earnings results on Monday, February 14th. The utilities provider reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. Otter Tail had a net margin of 14.77% and a return on equity of 18.87%. The business had revenue of $333.23 million for the quarter, compared to analyst estimates of $302.70 million. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, sell-side analysts anticipate that Otter Tail will post 3.91 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Stockholders of record on Tuesday, February 15th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Monday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.39. Otter Tail’s dividend payout ratio (DPR) is 39.01%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in shares of Otter Tail in the 4th quarter valued at about $30,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Otter Tail in the 4th quarter valued at about $74,000. Carroll Financial Associates Inc. bought a new position in shares of Otter Tail in the 4th quarter valued at about $111,000. Investors Financial Group LLC bought a new position in shares of Otter Tail in the 4th quarter valued at about $202,000. Finally, Bell Bank bought a new position in shares of Otter Tail in the 4th quarter valued at about $214,000. 47.07% of the stock is currently owned by institutional investors.

Otter Tail Company Profile (Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe 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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