Otter Tail (OTTR) Rating Lowered to Hold at BidaskClub

BidaskClub lowered shares of Otter Tail (NASDAQ:OTTR) from a buy rating to a hold rating in a research report report published on Tuesday.

Separately, Zacks Investment Research lowered shares of Otter Tail from a buy rating to a hold rating in a research report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Otter Tail currently has a consensus rating of Hold and a consensus target price of $45.67.

Shares of NASDAQ:OTTR opened at $48.41 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.44 and a quick ratio of 0.90. Otter Tail has a fifty-two week low of $39.00 and a fifty-two week high of $49.75. The firm has a market cap of $1.90 billion, a P/E ratio of 21.72 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, November 5th. The utilities provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.16. Otter Tail had a net margin of 9.59% and a return on equity of 12.46%. The firm had revenue of $227.70 million during the quarter. During the same quarter in the prior year, the company posted $0.45 EPS. Otter Tail’s revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Otter Tail will post 2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 15th will be given a dividend of $0.335 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.77%. Otter Tail’s dividend payout ratio is 72.04%.

Large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in Otter Tail by 5.3% during the second quarter. BlackRock Inc. now owns 2,680,981 shares of the utilities provider’s stock valued at $127,615,000 after purchasing an additional 135,824 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Otter Tail during the third quarter valued at $2,711,000. First Trust Advisors LP raised its stake in Otter Tail by 10.4% during the third quarter. First Trust Advisors LP now owns 516,029 shares of the utilities provider’s stock valued at $24,718,000 after purchasing an additional 48,716 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Otter Tail during the second quarter valued at $1,000,000. Finally, Renaissance Technologies LLC raised its stake in Otter Tail by 3.1% during the second quarter. Renaissance Technologies LLC now owns 873,500 shares of the utilities provider’s stock valued at $41,579,000 after purchasing an additional 25,990 shares in the last quarter. Hedge funds and other institutional investors own 42.94% of the company’s stock.

Otter Tail Company Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics 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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