Otter Tail (NASDAQ:OTTR) Sets New 52-Week High at $54.58

Otter Tail Co. (NASDAQ:OTTR) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $54.58 and last traded at $54.18, with a volume of 509 shares trading hands. The stock had previously closed at $53.90.

A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Otter Tail from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Zacks Investment Research downgraded shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Maxim Group set a $60.00 price objective on shares of Otter Tail and gave the company a “buy” rating in a research note on Wednesday, August 7th.

The stock’s 50-day moving average is $51.68 and its 200 day moving average is $51.14. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.28 and a quick ratio of 0.77. The company has a market cap of $2.09 billion, a PE ratio of 26.10, a PEG ratio of 3.42 and a beta of 0.36.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Monday, August 5th. The utilities provider reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.09). Otter Tail had a net margin of 8.57% and a return on equity of 10.78%. The firm had revenue of $229.20 million for the quarter, compared to analysts’ expectations of $229.20 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue was up 1.3% on a year-over-year basis. On average, analysts expect that Otter Tail Co. will post 2.2 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.60%. Otter Tail’s payout ratio is 67.96%.

A number of large investors have recently bought and sold shares of OTTR. Quantamental Technologies LLC purchased a new stake in Otter Tail during the second quarter valued at approximately $56,000. Meeder Asset Management Inc. purchased a new stake in Otter Tail during the second quarter valued at approximately $80,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Otter Tail by 17.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,935 shares of the utilities provider’s stock valued at $155,000 after acquiring an additional 438 shares during the last quarter. Cetera Advisor Networks LLC purchased a new stake in Otter Tail during the first quarter valued at approximately $200,000. Finally, D.A. Davidson & CO. purchased a new stake in Otter Tail during the second quarter valued at approximately $211,000. 44.03% of the stock is owned by institutional investors.

About Otter Tail (NASDAQ:OTTR)

Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.

See Also: Net Margin

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