What is KeyCorp’s Estimate for Otter Tail FY2024 Earnings?

Otter Tail Co. (NASDAQ:OTTR) – KeyCorp increased their FY2024 EPS estimates for shares of Otter Tail in a note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will earn $7.13 per share for the year, up from their prior estimate of $7.01. The consensus estimate for Otter Tail’s current full-year earnings is $7.01 per share. KeyCorp also issued estimates for Otter Tail’s Q4 2024 earnings at $1.26 EPS, FY2026 earnings at $3.56 EPS, FY2027 earnings at $3.79 EPS and FY2028 earnings at $4.03 EPS.

Otter Tail (NASDAQ:OTTR) last announced 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 return on equity of 19.84% and a net margin of 22.70%. The business had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the firm posted $2.19 EPS.

OTTR has been the subject of several other reports. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Otter Tail Stock Down 1.1 %

Shares of OTTR opened at $77.68 on Thursday. The firm’s 50-day simple moving average is $79.16 and its 200 day simple moving average is $84.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The firm has a market cap of $3.25 billion, a P/E ratio of 10.73 and a beta of 0.54. Otter Tail has a 52 week low of $73.43 and a 52 week high of $100.84.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is currently 25.83%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings in shares of Otter Tail by 57.2% during the first quarter. Jane Street Group LLC now owns 64,615 shares of the utilities provider’s stock worth $5,583,000 after purchasing an additional 23,514 shares during the period. GSA Capital Partners LLP grew its position in shares of Otter Tail by 285.1% in the 3rd quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider’s stock valued at $1,487,000 after buying an additional 14,089 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Otter Tail in the third quarter valued at about $683,000. Quest Partners LLC raised its position in shares of Otter Tail by 178,816.7% during the second quarter. Quest Partners LLC now owns 10,735 shares of the utilities provider’s stock worth $940,000 after acquiring an additional 10,729 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of Otter Tail by 5.2% in the second quarter. Whittier Trust Co. now owns 78,140 shares of the utilities provider’s stock worth $6,844,000 after acquiring an additional 3,841 shares during the period. Institutional investors own 61.32% of the company’s stock.

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.