Otter Tail Corporation (OTTR) Declares $0.32 Quarterly Dividend
Otter Tail Corporation (NASDAQ:OTTR) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be given a dividend of 0.32 per share by the utilities provider on Saturday, December 9th. This represents a $1.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Tuesday, November 14th.
Otter Tail Corporation (NASDAQ:OTTR) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.06. The company had revenue of $216.50 million during the quarter, compared to the consensus estimate of $201.70 million. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share.
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In related news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total value of $62,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by insiders.
A number of research firms recently commented on OTTR. Zacks Investment Research downgraded Otter Tail Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub raised Otter Tail Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Otter Tail Corporation in a research note on Friday, October 20th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.33.
Otter Tail Corporation 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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