BidaskClub Downgrades Otter Tail (OTTR) to Hold

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

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Otter Tail from a hold rating to a buy rating and set a $52.00 price target for the company in a research report on Tuesday, November 7th. KeyCorp reaffirmed a hold rating on shares of Otter Tail in a report on Friday, October 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $44.67.

Otter Tail (OTTR) opened at $44.40 on Friday. Otter Tail has a 1 year low of $35.65 and a 1 year high of $48.65. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.61 and a current ratio of 0.93. The stock has a market cap of $1,770.00, a P/E ratio of 24.67 and a beta of 0.82.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Otter Tail had a net margin of 8.53% and a return on equity of 10.47%. The company had revenue of $216.50 million during the quarter, compared to analyst estimates of $201.70 million. During the same period last year, the firm posted $0.37 EPS. Otter Tail’s revenue for the quarter was up 9.8% compared to the same quarter last year. equities analysts predict that Otter Tail will post 1.8 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, December 9th. Stockholders of record on Wednesday, November 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Tuesday, November 14th. Otter Tail’s dividend payout ratio (DPR) is 71.11%.

In other news, Director John D. Erickson sold 2,400 shares of Otter Tail stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $45.55, for a total transaction of $109,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin G. Moug sold 1,500 shares of Otter Tail stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $46.50, for a total transaction of $69,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,900 shares of company stock valued at $318,570. Insiders own 1.40% of the company’s stock.

Large investors have recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. purchased a new stake in Otter Tail in the 2nd quarter worth $107,000. Steward Partners Investment Advisory LLC acquired a new stake in Otter Tail during the 3rd quarter worth $107,000. Ameritas Investment Partners Inc. boosted its stake in Otter Tail by 9.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 309 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Otter Tail during the 2nd quarter worth $173,000. Finally, Amalgamated Bank acquired a new stake in Otter Tail during the 3rd quarter worth $212,000. 41.02% of the stock is owned by hedge funds and other institutional investors.

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Otter Tail Company Profile

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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