Otter Tail (NASDAQ:OTTR) Upgraded to "Hold" at StockNews.com

Otter Tail (NASDAQ:OTTR - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Thursday.

Separately, Siebert Williams Shank upgraded Otter Tail from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 6th.

Otter Tail Price Performance

Otter Tail stock traded down $0.67 during mid-day trading on Thursday, hitting $79.64. 181,983 shares of the company were exchanged, compared to its average volume of 234,718. The company has a market capitalization of $3.33 billion, a P/E ratio of 11.01 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. Otter Tail has a 12-month low of $73.43 and a 12-month high of $100.84. The business's 50 day simple moving average is $78.52 and its two-hundred day simple moving average is $85.54.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same period in the prior year, the company earned $2.19 earnings per share. Analysts forecast that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Otter Tail

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Otter Tail by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider's stock worth $452,607,000 after purchasing an additional 197,617 shares during the period. Dimensional Fund Advisors LP lifted its stake in Otter Tail by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider's stock worth $90,703,000 after acquiring an additional 3,974 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Otter Tail by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,130 shares of the utilities provider's stock worth $39,794,000 after acquiring an additional 3,425 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Otter Tail by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider's stock worth $38,102,000 after acquiring an additional 4,862 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Otter Tail by 3.6% in the 2nd quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider's stock worth $12,532,000 after acquiring an additional 4,997 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

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.