Otter Tail (NASDAQ:OTTR) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Otter Tail (NASDAQ:OTTR) from a hold (c+) rating to a buy (b-) rating in a research report sent to investors on Saturday morning,Weiss Ratings reports.

Separately, Zacks Research upgraded Otter Tail to a “hold” rating in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Otter Tail Stock Down 1.1%

OTTR stock opened at $77.67 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.31 and a quick ratio of 2.57. The stock has a market capitalization of $3.26 billion, a P/E ratio of 11.42 and a beta of 0.54. The business has a 50-day moving average of $81.42 and a 200-day moving average of $79.43. Otter Tail has a fifty-two week low of $71.66 and a fifty-two week high of $88.36.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.The company had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $329.60 million. During the same period in the prior year, the firm earned $2.07 earnings per share. Otter Tail’s revenue for the quarter was down 2.7% compared to the same quarter last year. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, sell-side analysts anticipate that Otter Tail will post 5.88 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a dividend of $0.525 per share. The ex-dividend date was Friday, August 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.7%. Otter Tail’s dividend payout ratio (DPR) is 30.88%.

Hedge Funds Weigh In On Otter Tail

A number of large investors have recently made changes to their positions in OTTR. HighMark Wealth Management LLC acquired a new stake in Otter Tail during the second quarter worth approximately $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Otter Tail during the first quarter worth approximately $34,000. GAMMA Investing LLC grew its position in Otter Tail by 44.0% during the third quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock worth $35,000 after buying an additional 132 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in Otter Tail during the first quarter worth approximately $54,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Otter Tail during the second quarter worth approximately $53,000. Institutional investors own 61.32% of the company’s stock.

Otter Tail Company Profile

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.