Otter Tail Corporation (NASDAQ:OTTR) Stock Has Consensus Target Price of $91.00

Shares of Otter Tail Corporation (NASDAQ:OTTR) have received an average rating of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $91.00.

A number of research firms have issued reports on OTTR. Weiss Ratings lowered shares of Otter Tail from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, November 3rd. Siebert Williams Shank upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Wednesday, November 4th. Finally, Wall Street Zen cut Otter Tail from a “hold” rating to a “sell” rating in a report on Saturday.

Otter Tail Price Performance

Shares of OTTR opened at $79.86 on Friday. Otter Tail has a 12 month low of $77.79 and a 12 month high of $95.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.37 and a quick ratio of 1.36. The stock has a fifty day moving average price of $88.37 and a 200 day moving average price of $88.64. The company has a market cap of $3.35 billion, a P/E ratio of 13.90 and a beta of 0.42.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.14). The firm had revenue of $320.51 million for the quarter, compared to analyst estimates of $327.87 million. Otter Tail had a net margin of 13.45% and a return on equity of 13.41%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $1.86 EPS. On average, research analysts forecast that Otter Tail will post 5.96 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, November 13th. Otter Tail’s payout ratio is 55.13%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Virtus Advisers LLC lifted its holdings in Otter Tail by 16.8% in the third quarter. Virtus Advisers LLC now owns 5,550 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 797 shares during the period. Russell Investments Group Ltd. grew its position in Otter Tail by 1.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 20,515 shares of the utilities provider’s stock valued at $1,806,000 after buying an additional 200 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Otter Tail by 52.4% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,312 shares of the utilities provider’s stock valued at $820,000 after buying an additional 3,202 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Otter Tail by 1.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 21,316 shares of the utilities provider’s stock worth $1,877,000 after buying an additional 337 shares in the last quarter. Finally, Lido Advisors LLC raised its position in shares of Otter Tail by 23.9% during the 3rd quarter. Lido Advisors LLC now owns 7,685 shares of the utilities provider’s stock worth $677,000 after buying an additional 1,482 shares in the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Company Profile

Otter Tail Corporation is a diversified company based in Fergus Falls, Minnesota. Its businesses operate in the electric utility, manufacturing and plastics industries.

Through Otter Tail Power Company, the corporation generates, transmits and distributes electricity to customers in parts of Minnesota, North Dakota and South Dakota. The utility traces its history to 1907.

Its other businesses manufacture products such as metal components and fabricated assemblies, as well as plastic products for commercial and industrial applications.