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

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 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, November 15th.

Otter Tail has increased its dividend payment 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% meaning its dividend is sufficiently covered by earnings. 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 Performance

OTTR stock opened at $79.86 on Wednesday. The stock’s fifty day moving average is $78.56 and its two-hundred day moving average is $85.61. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 11.03 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 has a 1 year low of $73.43 and a 1 year high of $100.84.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to analyst estimates 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 business earned $2.19 earnings per share. On average, research analysts predict that Otter Tail will post 7.01 EPS for the current year.

Analyst Upgrades and Downgrades

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