Zacks Investment Research Lowers Otter Tail (OTTR) to Hold

Zacks Investment Research lowered shares of Otter Tail (NASDAQ:OTTR) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “

Separately, BidaskClub upgraded shares of Otter Tail from a hold rating to a buy rating in a research report on Tuesday, October 23rd.

OTTR stock opened at $48.37 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.90 and a current ratio of 1.48. Otter Tail has a fifty-two week low of $39.00 and a fifty-two week high of $51.88. The stock has a market capitalization of $1.91 billion, a P/E ratio of 21.80 and a beta of 0.48.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, November 5th. The utilities provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.16. Otter Tail had a net margin of 9.59% and a return on equity of 12.38%. The firm had revenue of $227.70 million for the quarter. During the same period in the previous year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Otter Tail will post 2.05 earnings per share for the current fiscal year.

In other Otter Tail news, VP Paul L. Knutson sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $47.79, for a total value of $143,370.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John D. Erickson sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $47.35, for a total transaction of $108,905.00. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its holdings in shares of Otter Tail by 80.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,855 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 2,166 shares during the period. First Hawaiian Bank acquired a new stake in shares of Otter Tail during the fourth quarter worth approximately $272,000. Martingale Asset Management L P boosted its holdings in shares of Otter Tail by 0.8% during the third quarter. Martingale Asset Management L P now owns 72,421 shares of the utilities provider’s stock worth $3,469,000 after purchasing an additional 600 shares during the period. Vanguard Group Inc boosted its holdings in shares of Otter Tail by 1.2% during the third quarter. Vanguard Group Inc now owns 4,004,057 shares of the utilities provider’s stock worth $191,794,000 after purchasing an additional 45,637 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Otter Tail by 1.2% during the third quarter. Vanguard Group Inc. now owns 4,004,057 shares of the utilities provider’s stock worth $191,794,000 after purchasing an additional 45,637 shares during the period. Institutional investors and hedge funds own 43.01% 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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