Otter Tail (NASDAQ:OTTR) Reaches New 12-Month High at $49.46

Shares of Otter Tail Co. (NASDAQ:OTTR) hit a new 52-week high on Wednesday . The stock traded as high as $49.46 and last traded at $49.36, with a volume of 567 shares changing hands. The stock had previously closed at $49.22.

Several research analysts recently weighed in on the company. Williams Capital reiterated a “buy” rating on shares of Otter Tail in a research report on Friday, April 23rd. Zacks Investment Research cut Otter Tail from a “buy” rating to a “hold” rating in a research report on Thursday, June 3rd. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.67.

The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 4.00 and a beta of 0.38. The company’s 50-day moving average is $47.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.56 and a quick ratio of 0.36.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Sunday, May 2nd. The utilities provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. The business had revenue of $261.71 million during the quarter, compared to analysts’ expectations of $248.77 million. Otter Tail had a return on equity of 11.88% and a net margin of 11.11%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. Analysts anticipate that Otter Tail Co. will post 2.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Friday, May 14th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Thursday, May 13th. Otter Tail’s dividend payout ratio (DPR) is presently 66.67%.

Several institutional investors have recently bought and sold shares of OTTR. North Star Investment Management Corp. boosted its stake in shares of Otter Tail by 18.2% in the first quarter. North Star Investment Management Corp. now owns 56,948 shares of the utilities provider’s stock worth $2,629,000 after acquiring an additional 8,768 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Otter Tail by 45.3% in the first quarter. Victory Capital Management Inc. now owns 177,790 shares of the utilities provider’s stock worth $8,209,000 after acquiring an additional 55,426 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Otter Tail in the fourth quarter worth approximately $383,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Otter Tail by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,109 shares of the utilities provider’s stock worth $1,070,000 after acquiring an additional 3,852 shares during the last quarter. Finally, GWM Advisors LLC boosted its stake in shares of Otter Tail by 2.9% in the first quarter. GWM Advisors LLC now owns 11,525 shares of the utilities provider’s stock worth $532,000 after acquiring an additional 326 shares during the last quarter. Institutional investors and hedge funds own 46.01% of the company’s stock.

Otter Tail Company Profile (NASDAQ:OTTR)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.

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