Otter Tail (NASDAQ:OTTR) Stock Price Up 9.6% – What’s Next?

Otter Tail Co. (NASDAQ:OTTR)’s share price was up 9.6% during trading on Tuesday . The stock traded as high as $83.90 and last traded at $84.36. Approximately 96,390 shares traded hands during trading, a decline of 57% from the average daily volume of 222,912 shares. The stock had previously closed at $76.99.

Wall Street Analyst Weigh In

OTTR has been the topic of a number of analyst reports. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Otter Tail Price Performance

The company has a market cap of $3.42 billion, a PE ratio of 11.28 and a beta of 0.57. The stock has a fifty day simple moving average of $76.58 and a two-hundred day simple moving average of $79.61. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

Otter Tail Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio is currently 29.01%.

Institutional Investors Weigh In On Otter Tail

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Asset Planning Inc purchased a new position in shares of Otter Tail in the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB acquired a new position in Otter Tail during the third quarter worth about $39,000. Allworth Financial LP increased its holdings in Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after buying an additional 312 shares in the last quarter. Studio Investment Management LLC acquired a new stake in shares of Otter Tail during the 4th quarter valued at approximately $50,000. Finally, Crews Bank & Trust acquired a new stake in shares of Otter Tail during the 4th quarter valued at approximately $81,000. Institutional investors and hedge funds own 61.32% 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.