Otter Tail (NASDAQ:OTTR) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Otter Tail (NASDAQ:OTTR) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “

Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Otter Tail from a buy rating to a hold rating in a report on Tuesday, April 28th. Maxim Group reiterated a buy rating and issued a $50.00 target price on shares of Otter Tail in a report on Friday, May 8th. Finally, Sidoti increased their target price on shares of Otter Tail from $54.00 to $56.00 and gave the stock a neutral rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Otter Tail has an average rating of Hold and an average price target of $52.25.

Shares of OTTR stock opened at $42.00 on Friday. Otter Tail has a 52-week low of $30.95 and a 52-week high of $57.74. The stock has a market cap of $1.73 billion, a PE ratio of 19.81 and a beta of 0.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.90 and a current ratio of 1.46. The firm’s 50 day moving average price is $42.85 and its two-hundred day moving average price is $47.99.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.07). The firm had revenue of $234.75 million during the quarter, compared to analyst estimates of $250.70 million. Otter Tail had a return on equity of 11.00% and a net margin of 9.34%. As a group, sell-side analysts predict that Otter Tail will post 2.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, May 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.52%. Otter Tail’s payout ratio is 68.20%.

Several large investors have recently modified their holdings of OTTR. CWM LLC raised its holdings in shares of Otter Tail by 3,167.8% during the fourth quarter. CWM LLC now owns 14,934 shares of the utilities provider’s stock worth $766,000 after acquiring an additional 14,477 shares during the period. Dupont Capital Management Corp acquired a new stake in shares of Otter Tail during the fourth quarter worth $397,000. GWM Advisors LLC raised its holdings in shares of Otter Tail by 3.5% during the fourth quarter. GWM Advisors LLC now owns 9,139 shares of the utilities provider’s stock worth $468,000 after acquiring an additional 307 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Otter Tail by 31.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 10,286 shares of the utilities provider’s stock worth $528,000 after acquiring an additional 2,443 shares during the period. Finally, Whittier Trust Co. grew its position in Otter Tail by 2.3% in the fourth quarter. Whittier Trust Co. now owns 40,238 shares of the utilities provider’s stock valued at $2,064,000 after purchasing an additional 907 shares in the last quarter. Institutional investors and hedge funds own 45.11% of the company’s stock.

Otter Tail Company Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.

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