Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Otter Tail from a hold rating to a sell rating in a research report on Tuesday, December 20th. Williams Capital initiated coverage on shares of Otter Tail in a research report on Monday, February 6th. They set a hold rating and a $36.00 price target on the stock.
Shares of Otter Tail (NASDAQ:OTTR) traded up 1.73% during mid-day trading on Friday, hitting $38.30. 49,211 shares of the company’s stock traded hands. The company has a market cap of $1.51 billion, a PE ratio of 23.83 and a beta of 0.76. The firm has a 50-day moving average of $37.48 and a 200 day moving average of $37.19. Otter Tail has a 52 week low of $27.77 and a 52 week high of $42.55.
Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. Otter Tail had a net margin of 7.76% and a return on equity of 9.76%. The firm had revenue of $196.90 million for the quarter, compared to analyst estimates of $192.40 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that Otter Tail will post $1.72 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Wednesday, February 15th were given a $0.32 dividend. The ex-dividend date was Monday, February 13th. This represents a $1.28 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Otter Tail’s previous quarterly dividend of $0.31. Otter Tail’s dividend payout ratio (DPR) is currently 80.00%.
In other Otter Tail news, CFO Kevin G. Moug sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $37.80, for a total value of $30,240.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP George A. Koeck sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $36.30, for a total transaction of $145,200.00. The disclosure for this sale can be found here. Insiders sold 5,300 shares of company stock worth $195,340 in the last 90 days. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Otter Tail during the third quarter worth $228,000. Advisor Group Inc. raised its stake in shares of Otter Tail by 3.7% in the third quarter. Advisor Group Inc. now owns 7,455 shares of the company’s stock worth $258,000 after buying an additional 263 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in shares of Otter Tail during the third quarter worth $317,000. Aperio Group LLC bought a new stake in shares of Otter Tail during the third quarter worth $319,000. Finally, Analytic Investors LLC bought a new stake in shares of Otter Tail during the third quarter worth $338,000. Hedge funds and other institutional investors own 37.58% of the company’s stock.
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).
Receive News & Ratings for Otter Tail Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail Co. and related companies with MarketBeat.com's FREE daily email newsletter.