Unitil (NYSE:UTL) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Unitil (NYSE:UTL) from a buy rating to a hold rating in a research report report published on Monday.

Several other brokerages also recently weighed in on UTL. Scotiabank initiated coverage on Unitil in a research note on Friday. They set a “sector perform” rating and a $57.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Unitil in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Unitil currently has an average rating of “Hold” and a consensus price target of $57.00.

Unitil Price Performance

Shares of NYSE:UTL opened at $53.57 on Monday. The firm’s 50 day moving average is $52.37 and its two-hundred day moving average is $50.12. Unitil has a 52 week low of $44.61 and a 52 week high of $59.99. The firm has a market capitalization of $963.78 million, a P/E ratio of 17.86 and a beta of 0.45. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 1.04.

Unitil (NYSE:UTL) last issued its quarterly earnings data on Monday, February 9th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.10. Unitil had a return on equity of 9.38% and a net margin of 9.37%.The business had revenue of $161.50 million during the quarter, compared to the consensus estimate of $144.45 million. Analysts anticipate that Unitil will post 3.08 earnings per share for the current year.

Unitil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 12th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.5%. This is a boost from Unitil’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 12th. Unitil’s payout ratio is 63.33%.

Institutional Investors Weigh In On Unitil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in Unitil in the fourth quarter worth approximately $26,000. Jones Financial Companies Lllp raised its stake in shares of Unitil by 100.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 568 shares of the utilities provider’s stock worth $27,000 after buying an additional 284 shares in the last quarter. Larson Financial Group LLC bought a new stake in shares of Unitil in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Unitil in the third quarter valued at $29,000. Finally, Quarry LP acquired a new stake in shares of Unitil in the third quarter valued at $32,000. Institutional investors own 76.76% of the company’s stock.

Unitil Company Profile

Unitil Corporation (NYSE: UTL) is a publicly traded energy delivery company that provides regulated electric and natural gas distribution services. The company delivers energy to residential, commercial and industrial customers through a network of distribution systems, offering safe and reliable service across its service areas. Unitil’s operations include system maintenance, emergency response, meter reading and customer support functions, all governed by state regulatory commissions.

Headquartered in Hampton, New Hampshire, Unitil serves communities in New Hampshire, Massachusetts and Maine.