Otter Tail (NASDAQ:OTTR) Shares Cross Above 200 Day Moving Average – Should You Sell?

Otter Tail Corporation (NASDAQ:OTTR)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $89.18 and traded as high as $89.89. Otter Tail shares last traded at $88.04, with a volume of 217,040 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Otter Tail from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Otter Tail has a consensus rating of “Reduce” and a consensus price target of $86.00.

Otter Tail Stock Performance

The firm’s 50-day moving average price is $90.50 and its two-hundred day moving average price is $89.19. The company has a quick ratio of 1.36, a current ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.74 billion, a PE ratio of 19.17 and a beta of 0.46.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.15. Otter Tail had a net margin of 14.83% and a return on equity of 14.56%. The firm had revenue of $334.38 million for the quarter, compared to analysts’ expectations of $326.13 million. During the same period in the previous year, the company posted $1.85 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, research analysts predict that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were given a dividend of $0.5775 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.31 dividend on an annualized basis and a yield of 2.6%. Otter Tail’s payout ratio is presently 49.78%.

Hedge Funds Weigh In On Otter Tail

Institutional investors and hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC raised its stake in shares of Otter Tail by 248.8% during the 1st quarter. Sound Income Strategies LLC now owns 286 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 204 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Otter Tail in the 2nd quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its holdings in Otter Tail by 129.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 376 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 212 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Otter Tail during the fourth quarter worth $31,000. Finally, Motiv8 Investments LLC acquired a new position in Otter Tail during the fourth quarter valued at approximately $34,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Company Profile

Otter Tail Corporation is a diversified operating company headquartered in Fergus Falls, Minnesota. Through its principal subsidiary, Otter Tail Power Company, it generates, transmits and distributes electricity to residential, commercial, industrial and municipal customers in Minnesota, North Dakota and South Dakota.

Otter Tail Power Company operates a mix of generation resources and maintains the transmission and distribution infrastructure needed to deliver electricity across its service territory.