Otter Tail (NASDAQ:OTTR) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• Otter Tail's stock received a "hold (C+)" rating from Weiss Ratings, indicating a neutral investment outlook.
• The company reported $1.85 earnings per share (EPS) for the latest quarter, exceeding analyst expectations, but showed a 2.7% decrease in revenue compared to the previous year.
• Significant activity from institutional investors occurred, with GAMMA Investing LLC increasing its holdings by an impressive 9,902.8% during the first quarter.

Otter Tail (NASDAQ:OTTR - Get Free Report)'s stock had its "hold (c+)" rating reissued by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Otter Tail Stock Down 0.0%

Shares of OTTR opened at $77.46 on Wednesday. The firm has a market cap of $3.25 billion, a P/E ratio of 11.39 and a beta of 0.54. Otter Tail has a 12-month low of $71.66 and a 12-month high of $88.36. The company's 50-day moving average price is $82.09 and its 200 day moving average price is $79.55. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.11. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.The firm had revenue of $333.04 million during the quarter, compared to the consensus estimate of $329.60 million. During the same period in the prior year, the company posted $2.07 earnings per share. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, sell-side analysts forecast that Otter Tail will post 5.88 earnings per share for the current year.

Hedge Funds Weigh In On Otter Tail

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Otter Tail by 9,902.8% during the 1st quarter. GAMMA Investing LLC now owns 32,309 shares of the utilities provider's stock valued at $2,597,000 after buying an additional 31,986 shares during the period. Farther Finance Advisors LLC lifted its stake in Otter Tail by 1,116.4% during the first quarter. Farther Finance Advisors LLC now owns 2,664 shares of the utilities provider's stock worth $217,000 after purchasing an additional 2,445 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Otter Tail by 4.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 6,441 shares of the utilities provider's stock valued at $518,000 after purchasing an additional 277 shares during the period. USA Financial Formulas boosted its position in Otter Tail by 53.5% during the 1st quarter. USA Financial Formulas now owns 1,202 shares of the utilities provider's stock valued at $97,000 after purchasing an additional 419 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Otter Tail by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,878 shares of the utilities provider's stock valued at $1,437,000 after acquiring an additional 375 shares in the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

About Otter Tail

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.

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