Otter Tail (NASDAQ:OTTR) Upgraded at StockNews.com

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

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

Otter Tail Stock Performance

Shares of NASDAQ:OTTR opened at $80.38 on Thursday. The company’s 50 day moving average price is $78.61 and its two-hundred day moving average price is $85.46. Otter Tail has a 12-month low of $73.43 and a 12-month high of $100.84. The firm has a market cap of $3.36 billion, a PE ratio of 11.10 and a beta of 0.52. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last announced its earnings results 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 firm had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same quarter in the prior year, the business posted $2.19 EPS. Equities research analysts predict that Otter Tail will post 7.01 earnings per share for the current year.

Otter Tail Announces Dividend

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

Hedge Funds Weigh In On Otter Tail

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC bought a new position in Otter Tail in the 2nd quarter valued at approximately $33,000. Hoese & Co LLP bought a new position in Otter Tail in the 3rd quarter valued at approximately $39,000. Allworth Financial LP lifted its stake in Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC lifted its stake in Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares during the last quarter. Finally, Quarry LP lifted its stake in Otter Tail by 1,811.4% in the 2nd 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. Institutional investors own 61.32% of the company’s stock.

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.