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

Key Points

• Analysts have a consensus “Hold” rating on Otter Tail, with one sell, three hold, and one buy recommendation; the average 12-month price target is $91.
• Otter Tail missed quarterly estimates, reporting EPS of $1.41 versus $1.55 expected and revenue of $320.51 million versus $327.87 million expected. Revenue fell 1.6% year over year.
• The company declared a quarterly dividend of $0.5775 per share, equivalent to $2.31 annually and a reported yield of 2.9%.

Otter Tail Corporation (NASDAQ:OTTR - Get Free Report) has received a consensus rating of "Hold" from the five ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $91.00.

A number of equities analysts recently issued reports on OTTR shares. 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. Wall Street Zen cut Otter Tail from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Weiss Ratings lowered shares of Otter Tail from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday.

Otter Tail Stock Down 2.0%

OTTR stock opened at $78.44 on Friday. The company has a market capitalization of $3.29 billion, a P/E ratio of 18.72 and a beta of 0.42. Otter Tail has a twelve month low of $77.79 and a twelve month high of $95.09. The firm has a 50 day simple moving average of $88.59 and a 200-day simple moving average of $88.69. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.60.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, November 2nd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.55 by ($0.14). Otter Tail had a net margin of 13.45% and a return on equity of 13.47%. The business had revenue of $320.51 million for the quarter, compared to analyst estimates of $327.87 million. During the same quarter in the previous year, the company posted $1.86 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Otter Tail will post 5.96 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OTTR. Next Level Wealth Planning LLC acquired a new position in Otter Tail in the third quarter valued at approximately $25,000. Security National Bank of Sioux City Iowa IA purchased a new position in Otter Tail in the second quarter valued at about $27,000. Jones Financial Companies Lllp acquired a new stake in Otter Tail during the second quarter worth $39,000. C M Bidwell & Associates Ltd. bought a new position in shares of Otter Tail in the 2nd quarter worth $50,000. Finally, Continuum Advisory LLC bought a new stake in shares of Otter Tail during the 2nd quarter worth about $52,000. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Company Profile

Otter Tail Corporation is a diversified company headquartered in Fergus Falls, Minnesota. Through its electric utility subsidiary, Otter Tail Power Company, it generates, transmits and distributes electricity to residential, commercial, industrial and agricultural customers.

Otter Tail Power Company serves customers across portions of western Minnesota, eastern North Dakota and northeastern South Dakota. Its generation portfolio includes coal, natural gas, wind and other energy resources, supporting the company's role as a regional provider of electric power and related utility services.

Beyond its utility operations, Otter Tail Corporation owns manufacturing businesses that produce fabricated metal components, plastic products and other specialized goods.

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