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Otter Tail ( (OTTR) ) has provided an update.
On March 19, 2026, Otter Tail Power Company entered into a private placement Note Purchase Agreement to issue $170 million of senior unsecured notes, comprising $100 million of 5.33% Series 2026A notes due March 19, 2036, and $70 million of 6.04% Series 2026B notes due June 4, 2056. The Series 2026A notes were issued on March 19, 2026, and the Series 2026B notes are expected to be issued on June 4, 2026, subject to customary closing conditions.
The agreement imposes operating and financial restrictions, including limits on mergers, asset sales, liens, guarantees, affiliate transactions, and key leverage ratios that cap interest-bearing debt at 65% of total capitalization and priority indebtedness at 20%. Prepayment is permitted at par plus accrued interest and, in most cases, a make-whole amount, with specified windows late in each series’ term when make-whole is waived and a mandatory prepayment offer at par is required upon a change of control, while proceeds are earmarked for capital expenditures, refinancing existing debt, and general corporate purposes.
The most recent analyst rating on (OTTR) stock is a Buy with a $101.00 price target. To see the full list of analyst forecasts on Otter Tail stock, see the OTTR Stock Forecast page.
Spark’s Take on OTTR Stock
According to Spark, TipRanks’ AI Analyst, OTTR is a Outperform.
OTTR scores well on solid profitability and an improving leverage profile, supported by a constructive technical trend and reasonable valuation. The score is held back by inconsistent free cash flow, 2025 margin compression, and earnings-call guidance pointing to near-term EPS pressure (notably Plastics) plus execution/timing risks.
To see Spark’s full report on OTTR stock, click here.
More about Otter Tail
Otter Tail Power Company is a regulated electric utility and wholly owned subsidiary of Otter Tail Corporation. The company provides electric power services, invests in capital-intensive infrastructure, and operates within a framework that typically relies on long-term financing to support its regulated utility operations and capital programs.
Average Trading Volume: 247,734
Technical Sentiment Signal: Buy
Current Market Cap: $3.53B
See more insights into OTTR stock on TipRanks’ Stock Analysis page.