Otter Tail (OTTR) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Otter Tail (NASDAQ:OTTR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Otter Tail from a buy rating to a hold rating in a research note on Thursday, March 8th. Williams Capital reaffirmed a hold rating and issued a $42.00 price objective (up from $41.00) on shares of Otter Tail in a research note on Thursday, February 15th. Finally, Sidoti lowered shares of Otter Tail from a buy rating to a neutral rating and set a $46.00 price objective for the company. in a research note on Monday, January 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $44.33.

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Shares of OTTR stock opened at $42.50 on Wednesday. The stock has a market cap of $1,723.76, a price-to-earnings ratio of 23.35 and a beta of 0.74. Otter Tail has a one year low of $36.45 and a one year high of $48.65. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.59 and a current ratio of 0.93.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, February 12th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.06. The firm had revenue of $206.70 million during the quarter, compared to analyst estimates of $207.30 million. Otter Tail had a net margin of 8.53% and a return on equity of 10.73%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. sell-side analysts predict that Otter Tail will post 1.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Investors of record on Thursday, February 15th were paid a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 3.15%. Otter Tail’s dividend payout ratio is 73.63%.

In related news, CFO Kevin G. Moug sold 1,500 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $40.55, for a total value of $60,825.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC purchased a new stake in Otter Tail in the third quarter worth about $107,000. Amalgamated Bank purchased a new stake in Otter Tail in the third quarter worth about $212,000. Ellington Management Group LLC purchased a new stake in Otter Tail in the fourth quarter worth about $244,000. Raymond James & Associates purchased a new stake in Otter Tail in the fourth quarter worth about $252,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Otter Tail by 65.3% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,253 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 2,866 shares during the period. 42.02% of the stock is owned by institutional investors.

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Otter Tail Company Profile

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).

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