Otter Tail (NASDAQ:OTTR) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Otter Tail (NASDAQ:OTTR) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Separately, Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Otter Tail Stock Up 1.5 %

Shares of Otter Tail stock traded up $1.21 on Thursday, hitting $80.38. The company had a trading volume of 226,804 shares, compared to its average volume of 234,346. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.00 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. Otter Tail has a 1 year low of $73.43 and a 1 year high of $100.84. The stock has a 50 day moving average of $78.52 and a 200-day moving average of $85.54.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The business had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the company posted $2.19 earnings per share. As a group, sell-side analysts forecast that Otter Tail will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is 25.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC purchased a new position in Otter Tail during the second quarter valued at $33,000. Hoese & Co LLP bought a new stake in Otter Tail during the third quarter worth about $39,000. Allworth Financial LP grew its holdings in Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares during the period. GAMMA Investing LLC increased its stake in shares of Otter Tail by 46.3% during the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 634 shares during the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The 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 markets.