Otter Tail (NASDAQ:OTTR) Upgraded by Siebert Williams Shank to “Hold” Rating

Siebert Williams Shank upgraded shares of Otter Tail (NASDAQ:OTTR) from a strong sell rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

Separately, StockNews.com lowered Otter Tail from a “hold” rating to a “sell” rating in a research note on Wednesday.

Otter Tail Stock Down 1.3 %

Shares of NASDAQ OTTR traded down $1.11 during mid-day trading on Wednesday, reaching $81.38. 115,432 shares of the company traded hands, compared to its average volume of 233,118. The stock has a market cap of $3.40 billion, a PE ratio of 11.23 and a beta of 0.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27. Otter Tail has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The company’s fifty day moving average is $78.73 and its two-hundred day moving average is $85.67.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The firm had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 20.28% and a net margin of 22.70%. During the same quarter last year, the firm posted $2.19 EPS. On average, analysts expect that Otter Tail will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.30%. Otter Tail’s dividend payout ratio is 25.83%.

Insiders Place Their Bets

In other news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the sale, the vice president now directly owns 12,300 shares of the company’s stock, valued at $1,091,502. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Otter Tail

A number of institutional investors and hedge funds have recently modified their holdings of OTTR. Creative Planning increased its stake in shares of Otter Tail by 2.2% in the 2nd quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 137 shares during the last quarter. Foster & Motley Inc. raised its holdings in Otter Tail by 1.5% in the second quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 149 shares during the period. GAMMA Investing LLC boosted its position in shares of Otter Tail by 46.3% during the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Otter Tail by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock valued at $922,000 after buying an additional 208 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in Otter Tail by 1.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock worth $1,847,000 after buying an additional 265 shares during the period. 61.32% of the stock is owned by institutional investors.

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.