Otter Tail Co. (OTTR) To Go Ex-Dividend on November 15th

Otter Tail Co. (NASDAQ:OTTR) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.468 per share by the utilities provider on Tuesday, December 10th. This represents a $1.87 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, November 15th.

Otter Tail has raised its dividend payment by an average of 5.7% per year over the last three years and has raised its dividend every year for the last 11 years. Otter Tail has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Otter Tail to earn $4.33 per share next year, which means the company should continue to be able to cover its $1.87 annual dividend with an expected future payout ratio of 43.2%.

Otter Tail Price Performance

OTTR stock opened at $79.86 on Wednesday. The stock’s 50 day moving average is $78.56 and its two-hundred day moving average is $85.61. Otter Tail has a 52-week low of $73.43 and a 52-week high of $100.84. The company has a market capitalization of $3.34 billion, a PE ratio of 11.03 and a beta of 0.52. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The firm had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. During the same period in the prior year, the company posted $2.19 earnings per share. Analysts predict that Otter Tail will post 7.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on OTTR. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com downgraded Otter Tail from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th.

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.