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

StockNews.com upgraded shares of Otter Tail (NASDAQ:OTTRGet Rating) from a hold rating to a buy rating in a report published on Tuesday morning.

Separately, Siebert Williams Shank cut shares of Otter Tail from a hold rating to a sell rating and increased their price objective for the stock from $62.00 to $64.00 in a research report on Wednesday, August 3rd.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $73.15 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.13 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $73.74 and a two-hundred day moving average price of $66.97. Otter Tail has a 1-year low of $54.14 and a 1-year high of $82.46. The company has a market cap of $3.05 billion, a P/E ratio of 11.69 and a beta of 0.43.

Otter Tail (NASDAQ:OTTRGet Rating) last issued its quarterly earnings results on Monday, August 1st. The utilities provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.50. Otter Tail had a return on equity of 25.55% and a net margin of 18.42%. The firm had revenue of $400.04 million during the quarter, compared to the consensus estimate of $336.87 million. During the same period last year, the business posted $1.01 EPS. The business’s revenue was up 40.1% compared to the same quarter last year. As a group, analysts anticipate that Otter Tail will post 7.08 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were given a dividend of $0.412 per share. The ex-dividend date was Friday, August 12th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 2.25%. Otter Tail’s dividend payout ratio (DPR) is presently 26.36%.

Hedge Funds Weigh In On Otter Tail

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Otter Tail by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 4,441,104 shares of the utilities provider’s stock valued at $277,569,000 after acquiring an additional 92,114 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Otter Tail by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,032,967 shares of the utilities provider’s stock valued at $64,561,000 after acquiring an additional 12,769 shares in the last quarter. First Trust Advisors LP lifted its position in Otter Tail by 4.7% in the 1st quarter. First Trust Advisors LP now owns 996,956 shares of the utilities provider’s stock valued at $62,310,000 after acquiring an additional 44,571 shares in the last quarter. State Street Corp lifted its position in Otter Tail by 1.7% in the 2nd quarter. State Street Corp now owns 880,451 shares of the utilities provider’s stock valued at $59,105,000 after acquiring an additional 14,694 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Otter Tail by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 774,243 shares of the utilities provider’s stock valued at $55,296,000 after acquiring an additional 16,508 shares in the last quarter. Institutional investors own 48.13% of the company’s stock.

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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