Otter Tail (NASDAQ:OTTR) Issues Earnings Results

Otter Tail (NASDAQ:OTTR) posted its earnings results on Monday. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.06, Zacks reports. The company had revenue of $325.56 million during the quarter, compared to analysts’ expectations of $337.40 million. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. Otter Tail’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.03 EPS. Otter Tail updated its FY 2025 guidance to 6.320-6.620 EPS.

Otter Tail Price Performance

OTTR stock opened at $77.96 on Tuesday. The company has a quick ratio of 2.57, a current ratio of 3.31 and a debt-to-equity ratio of 0.59. Otter Tail has a 12 month low of $71.66 and a 12 month high of $88.36. The firm has a market cap of $3.27 billion, a P/E ratio of 11.46 and a beta of 0.54. The company’s 50-day moving average price is $80.75 and its two-hundred day moving average price is $79.38.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, November 14th. Otter Tail’s dividend payout ratio (DPR) is currently 30.88%.

Institutional Investors Weigh In On Otter Tail

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MML Investors Services LLC grew its holdings in shares of Otter Tail by 2.6% during the 2nd quarter. MML Investors Services LLC now owns 7,373 shares of the utilities provider’s stock valued at $568,000 after purchasing an additional 186 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Otter Tail during the 2nd quarter valued at approximately $53,000. Hsbc Holdings PLC grew its holdings in shares of Otter Tail by 13.3% during the 2nd quarter. Hsbc Holdings PLC now owns 6,748 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 794 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Otter Tail by 6.2% during the 2nd quarter. American Century Companies Inc. now owns 15,726 shares of the utilities provider’s stock valued at $1,212,000 after purchasing an additional 917 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Otter Tail by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,611 shares of the utilities provider’s stock worth $1,978,000 after buying an additional 1,067 shares during the period. 61.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OTTR shares. Weiss Ratings upgraded shares of Otter Tail from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday, October 25th. Zacks Research upgraded shares of Otter Tail to a “hold” rating in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Otter Tail Company Profile

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.