Otter Tail Co. (OTTR) Upgraded by Sidoti to Buy

Sidoti upgraded shares of Otter Tail Co. (NASDAQ:OTTR) from a neutral rating to a buy rating in a research note issued to investors on Friday morning.

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.

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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).

5 Day Chart for NASDAQ:OTTR

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