Analysts Set $43.50 Price Target for Otter Tail Co. (OTTR)

Otter Tail Co. (NASDAQ:OTTR) has earned an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating. Otter Tail’s rating score has declined by 28.8% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 12-month consensus target price of $43.50 for the company, according to Zacks. Zacks has also assigned Otter Tail an industry rank of 205 out of 265 based on the ratings given to its competitors.

A number of research firms have recently commented on OTTR. Zacks Investment Research upgraded Otter Tail from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday. BidaskClub raised Otter Tail from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, Sidoti lowered Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a report on Monday, January 8th.

In related news, Director John D. Erickson sold 2,400 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.55, for a total transaction of $109,320.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its holdings in Otter Tail by 9.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 309 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Otter Tail by 8.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,989 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 565 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Otter Tail by 5.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,781 shares of the utilities provider’s stock valued at $546,000 after purchasing an additional 703 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Otter Tail by 8.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 14,173 shares of the utilities provider’s stock valued at $561,000 after purchasing an additional 1,155 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Otter Tail by 17.4% in the 3rd quarter. Sei Investments Co. now owns 8,414 shares of the utilities provider’s stock valued at $364,000 after purchasing an additional 1,244 shares in the last quarter. 41.13% of the stock is currently owned by institutional investors.

Otter Tail (NASDAQ OTTR) traded up $0.70 on Wednesday, hitting $41.65. The stock had a trading volume of 108,600 shares, compared to its average volume of 106,929. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.61. Otter Tail has a twelve month low of $35.65 and a twelve month high of $48.65. The firm has a market capitalization of $1,619.88, a PE ratio of 22.88 and a beta of 0.71.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Monday, February 12th. The utilities provider reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.06. Otter Tail had a return on equity of 10.77% and a net margin of 8.53%. The business had revenue of $206.70 million for the quarter, compared to analysts’ expectations of $207.30 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. equities research analysts forecast that Otter Tail will post 1.9 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Thursday, February 15th will be issued a dividend of $0.335 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.22%. This is a positive change from Otter Tail’s previous quarterly dividend of $0.32. Otter Tail’s dividend payout ratio (DPR) is currently 70.33%.

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About Otter Tail

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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