Otter Tail (NASDAQ:OTTR) Reaches New 12-Month High – What’s Next?

Shares of Otter Tail Corporation (NASDAQ:OTTR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $95.09 and last traded at $94.6250, with a volume of 74044 shares trading hands. The stock had previously closed at $92.37.

Analysts Set New Price Targets

OTTR has been the subject of several research reports. UBS Group reissued a “reduce” rating on shares of Otter Tail in a research report on Friday, May 29th. KeyCorp restated a “sector weight” rating on shares of Otter Tail in a research report on Monday, June 1st. Weiss Ratings cut Otter Tail from a “buy (b-)” rating to a “hold (c)” rating in a report on Thursday. Zacks Research lowered shares of Otter Tail from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Siebert Williams Shank downgraded shares of Otter Tail from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $86.00.

Otter Tail Trading Up 2.4%

The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.97 billion, a P/E ratio of 20.36 and a beta of 0.45. The business has a 50 day moving average price of $89.96 and a 200 day moving average price of $88.40.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.15. The company had revenue of $334.38 million during the quarter, compared to analyst estimates of $326.13 million. Otter Tail had a net margin of 14.83% and a return on equity of 14.56%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. Otter Tail has set its FY 2026 guidance at 5.680-6.080 EPS. Analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Otter Tail’s payout ratio is 49.78%.

Institutional Investors Weigh In On Otter Tail

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC raised its stake in shares of Otter Tail by 248.8% in the 1st quarter. Sound Income Strategies LLC now owns 286 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 204 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Otter Tail by 129.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock worth $30,000 after buying an additional 212 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Otter Tail during the fourth quarter worth about $31,000. Motiv8 Investments LLC acquired a new stake in Otter Tail in the 4th quarter valued at approximately $34,000. Finally, SHP Wealth Management acquired a new stake in Otter Tail in the 4th quarter valued at approximately $40,000. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Company Profile

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.