Otter Tail (NASDAQ:OTTR) Sets New 12-Month Low – What’s Next?

Otter Tail Co. (NASDAQ:OTTR) shares hit a new 52-week low during trading on Friday . The company traded as low as $71.96 and last traded at $72.07, with a volume of 49463 shares trading hands. The stock had previously closed at $74.46.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Otter Tail Stock Down 2.1 %

The firm’s 50-day moving average price is $77.77 and its 200 day moving average price is $82.01. The firm has a market cap of $3.05 billion, a P/E ratio of 10.07 and a beta of 0.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same period in the prior year, the company posted $2.19 EPS. On average, equities research analysts expect that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Friday, November 15th. Otter Tail’s dividend payout ratio is presently 25.83%.

Hedge Funds Weigh In On Otter Tail

A number of large investors have recently bought and sold shares of the business. Hoese & Co LLP acquired a new stake in shares of Otter Tail during the 3rd quarter worth approximately $39,000. Wilmington Savings Fund Society FSB acquired a new stake in Otter Tail in the third quarter worth $39,000. Allworth Financial LP lifted its stake in Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after buying an additional 312 shares during the last quarter. Quarry LP boosted its holdings in shares of Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 634 shares during the period. Finally, KBC Group NV grew its position in shares of Otter Tail by 27.9% during the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 61.32% of the company’s stock.

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.