Research Analysts Issue Forecasts for Otter Tail Q4 Earnings

Otter Tail Co. (NASDAQ:OTTR) – Research analysts at KeyCorp increased their Q4 2024 earnings per share estimates for Otter Tail in a report issued on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings per share of $1.20 for the quarter, up from their previous forecast of $1.03. The consensus estimate for Otter Tail’s current full-year earnings is $6.92 per share. KeyCorp also issued estimates for Otter Tail’s FY2025 earnings at $4.33 EPS and FY2028 earnings at $4.22 EPS.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.69 by $0.38. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The business had revenue of $342.34 million during the quarter, compared to the consensus estimate of $367.71 million. During the same period in the prior year, the business posted $1.95 earnings per share. Otter Tail’s revenue was up 1.4% compared to the same quarter last year.

Otter Tail Trading Up 0.7 %

Shares of NASDAQ OTTR opened at $77.63 on Thursday. Otter Tail has a 12 month low of $68.96 and a 12 month high of $100.84. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 10.66 and a beta of 0.53. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $80.43 and a 200-day simple moving average of $85.96.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Thursday, August 15th. Otter Tail’s dividend payout ratio is 25.69%.

Insider Activity

In other news, VP Jennifer O. Smestad sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the sale, the vice president now directly owns 12,300 shares of the company’s stock, valued at $1,091,502. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Otter Tail

Several hedge funds have recently bought and sold shares of the business. Creative Planning lifted its stake in Otter Tail by 2.2% in the 2nd quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock worth $550,000 after acquiring an additional 137 shares in the last quarter. Foster & Motley Inc. raised its stake in shares of Otter Tail by 1.5% during the 2nd quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 149 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Otter Tail by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock worth $922,000 after purchasing an additional 208 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Otter Tail by 1.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock worth $1,847,000 after purchasing an additional 265 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.