Shares of Otter Tail Co. (NASDAQ:OTTR) have earned a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation. Otter Tail’s rating score has declined by 28.8% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a twelve-month consensus price objective of $44.00 for the company, according to Zacks. Zacks has also assigned Otter Tail an industry rank of 203 out of 265 based on the ratings given to related companies.
OTTR has been the topic of a number of recent research reports. BidaskClub lowered shares of Otter Tail from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Tuesday, November 7th. Finally, Sidoti lowered shares of Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research note on Monday, January 8th.
Several institutional investors have recently modified their holdings of OTTR. MetLife Investment Advisors LLC acquired a new position in shares of Otter Tail during the fourth quarter worth about $839,000. LPL Financial LLC increased its stake in shares of Otter Tail by 152.8% during the fourth quarter. LPL Financial LLC now owns 25,103 shares of the utilities provider’s stock worth $1,116,000 after acquiring an additional 15,172 shares during the period. Millennium Management LLC increased its stake in shares of Otter Tail by 72.2% during the fourth quarter. Millennium Management LLC now owns 290,465 shares of the utilities provider’s stock worth $12,911,000 after acquiring an additional 121,745 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Otter Tail by 97.1% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,295 shares of the utilities provider’s stock worth $635,000 after acquiring an additional 7,042 shares during the period. Finally, Teachers Advisors LLC increased its stake in shares of Otter Tail by 2.2% during the fourth quarter. Teachers Advisors LLC now owns 333,423 shares of the utilities provider’s stock worth $14,821,000 after acquiring an additional 7,184 shares during the period. Institutional investors and hedge funds own 41.58% of the company’s stock.
Shares of Otter Tail (OTTR) traded up $0.50 on Friday, reaching $42.05. 121,800 shares of the company were exchanged, compared to its average volume of 105,667. Otter Tail has a 52-week low of $35.65 and a 52-week high of $48.65. The stock has a market capitalization of $1,650.00, a PE ratio of 22.98 and a beta of 0.71. The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 0.71.
Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, February 12th. The utilities provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Otter Tail had a net margin of 8.53% and a return on equity of 10.77%. The firm had revenue of $206.70 million during the quarter, compared to analysts’ expectations of $207.30 million. During the same period in the previous year, the company earned $0.44 earnings per share. Otter Tail’s quarterly revenue was up 5.1% compared to the same quarter last year. analysts anticipate that Otter Tail will post 1.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Shareholders of record on Thursday, February 15th will be paid a $0.335 dividend. The ex-dividend date is Wednesday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 3.19%. Otter Tail’s payout ratio is currently 74.03%.
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About Otter Tail
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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