Otter Tail (NASDAQ:OTTR) Releases Quarterly Earnings Results

Otter Tail (NASDAQ:OTTR) posted its quarterly earnings data on Monday. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06, Zacks reports. Otter Tail had a return on equity of 20.28% and a net margin of 22.70%. The company had revenue of $338.03 million during the quarter, compared to analysts’ expectations of $362.20 million. During the same period in the prior year, the firm earned $2.19 earnings per share. Otter Tail updated its FY 2024 guidance to 6.970-7.170 EPS.

Otter Tail Stock Performance

Shares of Otter Tail stock traded up $3.97 during trading on Wednesday, hitting $85.52. 658,589 shares of the stock were exchanged, compared to its average volume of 233,019. Otter Tail has a 1-year low of $73.43 and a 1-year high of $100.84. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 11.81 and a beta of 0.52. The company has a fifty day moving average price of $78.75 and a 200-day moving average price of $85.69. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.468 per share. The ex-dividend date is Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.19%. Otter Tail’s dividend payout ratio (DPR) is presently 25.83%.

Insiders Place Their Bets

In other news, VP Jennifer O. Smestad sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

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.