Unitil Corporation (NYSE:UTL) Given Average Rating of “Hold” by Brokerages

Unitil Corporation (NYSE:UTL) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $56.50.

Several analysts have weighed in on UTL shares. Freedom Capital cut Unitil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Zacks Research raised Unitil to a “hold” rating in a report on Monday, April 13th. Wall Street Zen cut Unitil from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company initiated coverage on Unitil in a report on Monday, May 11th. They set an “equal weight” rating and a $56.00 price objective for the company. Finally, Scotiabank initiated coverage on Unitil in a research note on Friday, April 10th. They set a “sector perform” rating and a $57.00 price objective for the company.

Unitil Stock Performance

Shares of NYSE:UTL opened at $51.29 on Friday. The stock has a market capitalization of $922.67 million, a P/E ratio of 16.23 and a beta of 0.32. Unitil has a 1-year low of $44.61 and a 1-year high of $55.08. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $51.85 and a two-hundred day moving average price of $51.03.

Unitil (NYSE:UTL) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $216.90 million during the quarter, compared to analysts’ expectations of $179.13 million. Unitil had a return on equity of 9.89% and a net margin of 9.60%. Equities analysts predict that Unitil will post 3.31 earnings per share for the current year.

Unitil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.7%. Unitil’s payout ratio is 60.13%.

Institutional Investors Weigh In On Unitil

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Unitil by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 1,538,652 shares of the utilities provider’s stock worth $74,532,000 after purchasing an additional 67,456 shares during the period. State Street Corp grew its stake in shares of Unitil by 4.5% during the fourth quarter. State Street Corp now owns 721,277 shares of the utilities provider’s stock worth $34,939,000 after purchasing an additional 31,186 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Unitil by 17.8% during the second quarter. The Manufacturers Life Insurance Company now owns 717,423 shares of the utilities provider’s stock worth $37,414,000 after purchasing an additional 108,254 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Unitil by 2.5% during the third quarter. JPMorgan Chase & Co. now owns 608,084 shares of the utilities provider’s stock worth $29,103,000 after purchasing an additional 14,894 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Unitil by 94.0% during the fourth quarter. Wellington Management Group LLP now owns 601,260 shares of the utilities provider’s stock worth $29,125,000 after purchasing an additional 291,325 shares in the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.

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.