KeyCorp Has Optimistic Outlook of Otter Tail Q4 Earnings

Otter Tail Co. (NASDAQ:OTTR) – Investment analysts at KeyCorp upped their Q4 2024 EPS estimates for shares of Otter Tail in a note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings of $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 (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 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 for the quarter, compared to analysts’ expectations of $367.71 million. During the same period in the previous year, the company posted $1.95 EPS. Otter Tail’s revenue was up 1.4% on a year-over-year basis.

Otter Tail Trading Up 0.8 %

Otter Tail stock opened at $78.85 on Thursday. The company’s fifty day simple moving average is $80.03 and its 200-day simple moving average is $85.84. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. Otter Tail has a 12 month low of $69.49 and a 12 month high of $100.84. The stock has a market cap of $3.30 billion, a P/E ratio of 10.66 and a beta of 0.53.

Institutional Investors Weigh In On Otter Tail

Several institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted its stake in shares of Otter Tail by 2.2% in the 2nd quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock valued at $550,000 after purchasing an additional 137 shares during the last quarter. Foster & Motley Inc. lifted its position in Otter Tail by 1.5% during the 2nd quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock worth $863,000 after acquiring an additional 149 shares during the last quarter. GAMMA Investing LLC lifted its position in Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 208 shares during the last quarter. Arizona State Retirement System lifted its position in Otter Tail by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock worth $922,000 after acquiring an additional 208 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Otter Tail by 1.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock worth $1,847,000 after acquiring an additional 265 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Insider Activity

In related 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 value of $354,960.00. Following the completion of the sale, the vice president now owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, August 15th. Otter Tail’s dividend payout ratio is currently 25.27%.

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.