Otter Tail Co. (NASDAQ:OTTR) Declares $0.47 Quarterly Dividend

Otter Tail Co. (NASDAQ:OTTR) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.468 per share by the utilities provider on Tuesday, December 10th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, November 15th.

Otter Tail has increased its dividend by an average of 5.7% per year over the last three years and has increased its dividend every year for the last 11 years. Otter Tail has a dividend payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Otter Tail to earn $4.33 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 43.2%.

Otter Tail Stock Up 0.5 %

Shares of OTTR traded up $0.37 during mid-day trading on Thursday, reaching $80.68. The company’s stock had a trading volume of 11,195 shares, compared to its average volume of 233,946. Otter Tail has a 12-month low of $73.43 and a 12-month high of $100.84. The stock has a market cap of $3.37 billion, a PE ratio of 11.09 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The company’s 50 day moving average is $78.52 and its 200 day moving average is $85.54.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06. The firm had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same quarter last year, the business posted $2.19 EPS. Equities analysts anticipate that Otter Tail will post 7.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

About Otter Tail

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.