Otter Tail (NASDAQ:OTTR) Issues Quarterly Earnings Results

Otter Tail (NASDAQ:OTTR) announced its quarterly earnings data on Monday. The utilities provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04, Zacks reports. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The business had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million.

Otter Tail Stock Up 0.4 %

Shares of NASDAQ:OTTR traded up $0.36 during mid-day trading on Wednesday, hitting $82.03. 8,401 shares of the company traded hands, compared to its average volume of 231,202. The stock has a market cap of $3.43 billion, a P/E ratio of 11.33 and a beta of 0.57. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail has a 12-month low of $71.66 and a 12-month high of $100.84. The stock has a 50-day moving average price of $76.58 and a two-hundred day moving average price of $79.61.

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $0.525 per share. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, February 14th. This represents a $2.10 annualized dividend and a dividend yield of 2.56%. Otter Tail’s payout ratio is presently 29.01%.

Analysts Set New Price Targets

OTTR has been the subject of a number of research reports. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th.

Otter Tail Company Profile

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.