Otter Tail Corporation (NASDAQ:OTTR) Stock Has Consensus Target Price of $91.00 According to Analysts

Otter Tail Corporation (NASDAQ:OTTR) has earned a consensus rating of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $91.00.

Several research analysts have recently weighed in on OTTR shares. Weiss Ratings cut shares of Otter Tail from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, November 3rd. Wall Street Zen lowered Otter Tail from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Finally, Siebert Williams Shank raised Otter Tail from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Wednesday, November 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OTTR. Advisors Asset Management Inc. bought a new position in shares of Otter Tail in the 3rd quarter valued at about $132,000. Private Advisor Group LLC increased its position in Otter Tail by 10.6% during the third quarter. Private Advisor Group LLC now owns 8,569 shares of the utilities provider’s stock valued at $754,000 after acquiring an additional 821 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Otter Tail by 205.8% in the third quarter. Global Retirement Partners LLC now owns 3,718 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 2,502 shares during the period. South Dakota Investment Council bought a new stake in Otter Tail in the third quarter worth about $656,000. Finally, Edgestream Partners L.P. bought a new stake in Otter Tail in the third quarter worth about $847,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Price Performance

NASDAQ OTTR opened at $77.82 on Friday. Otter Tail has a one year low of $77.51 and a one year high of $95.09. The stock has a 50-day moving average of $87.92 and a 200 day moving average of $88.55. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 13.23 and a beta of 0.42. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.37.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.14). The company had revenue of $320.51 million during the quarter, compared to the consensus estimate of $327.87 million. Otter Tail had a return on equity of 13.41% and a net margin of 13.45%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. On average, sell-side analysts forecast that Otter Tail will post 5.96 EPS for the current year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be paid a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, November 13th. Otter Tail’s dividend payout ratio is presently 55.13%.

Otter Tail Company Profile

Otter Tail Corporation is a diversified company based in Fergus Falls, Minnesota. Its businesses operate in the electric utility, manufacturing and plastics industries. Through Otter Tail Power Company, the corporation generates, transmits and distributes electricity to customers in parts of Minnesota, North Dakota and South Dakota. The utility traces its history to 1907. Its other businesses manufacture products such as metal components and fabricated assemblies, as well as plastic products for commercial and industrial applications.