KeyCorp Comments on Otter Tail's Q4 Earnings (NASDAQ:OTTR)

Otter Tail Co. (NASDAQ:OTTR - Free Report) - Equities researchers at KeyCorp raised their Q4 2024 earnings per share (EPS) estimates for Otter Tail in a note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $1.20 per share for the quarter, up from their previous estimate 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 Stock Up 0.7 %

NASDAQ OTTR traded up $0.56 during trading hours on Thursday, hitting $78.19. The company's stock had a trading volume of 227,512 shares, compared to its average volume of 231,066. The company has a market capitalization of $3.27 billion, a PE ratio of 10.66 and a beta of 0.53. 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 has a 52 week low of $69.49 and a 52 week high of $100.84. The company's 50-day simple moving average is $80.43 and its two-hundred day simple moving average is $85.96.

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

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.468 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.39%. Otter Tail's payout ratio is 25.69%.

Insider Buying and Selling

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now directly owns 12,300 shares of the company's stock, valued at $1,091,502. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Otter Tail

Several hedge funds have recently modified their holdings of OTTR. Atticus Wealth Management LLC purchased a new stake in shares of Otter Tail during the second quarter valued at approximately $33,000. Hoese & Co LLP bought a new stake in shares of Otter Tail during the 3rd quarter worth $39,000. Allworth Financial LP raised its stake in shares of Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock worth $43,000 after purchasing an additional 312 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider's stock worth $58,000 after buying an additional 208 shares during the last quarter. Finally, Quarry LP grew its position in Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider's stock valued at $59,000 after buying an additional 634 shares during the period. Institutional investors own 61.32% of the company's stock.

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.