Otter Tail (NASDAQ:OTTR) Posts Earnings Results

Otter Tail (NASDAQ:OTTR) posted its quarterly earnings data on Monday. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04, Zacks reports. The business had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%.

Otter Tail Stock Down 0.9 %

Shares of OTTR traded down $0.74 on Wednesday, hitting $80.93. 20,817 shares of the stock traded hands, compared to its average volume of 231,452. Otter Tail has a one year low of $71.66 and a one year high of $100.84. The company has a market capitalization of $3.39 billion, a PE ratio of 11.22 and a beta of 0.57. The business has a 50 day simple moving average of $76.58 and a 200 day simple moving average of $79.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17.

Otter Tail Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio is currently 29.01%.

Analysts Set New Price Targets

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

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.