Otter Tail (NASDAQ:OTTR) Raised to “Hold” at StockNews.com

Otter Tail (NASDAQ:OTTR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Otter Tail Stock Up 1.5 %

OTTR stock opened at $80.38 on Thursday. The stock has a fifty day moving average of $78.55 and a 200-day moving average of $85.50. Otter Tail has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.10 and a beta of 0.52. 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 (NASDAQ:OTTR) last posted its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. The firm had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter last year, the company earned $2.19 earnings per share. As a group, equities research analysts predict that Otter Tail will post 7.01 earnings per share for the current year.

Institutional Investors Weigh In On Otter Tail

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock valued at $5,514,000 after purchasing an additional 55,210 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Otter Tail during the third quarter valued at $306,000. MML Investors Services LLC increased its stake in Otter Tail by 6.6% in the 3rd quarter. MML Investors Services LLC now owns 5,186 shares of the utilities provider’s stock worth $405,000 after acquiring an additional 321 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Otter Tail in the 3rd quarter valued at about $589,000. Finally, State Street Corp raised its holdings in shares of Otter Tail by 1.1% in the 3rd quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock valued at $124,941,000 after acquiring an additional 18,109 shares in the last quarter. 61.32% of the stock is owned by hedge funds and other 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.