Unitil (NYSE:UTL) Downgraded to Hold Rating by Freedom Capital

Freedom Capital downgraded shares of Unitil (NYSE:UTL) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on UTL. Wall Street Zen downgraded shares of Unitil from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Zacks Research raised shares of Unitil to a “hold” rating in a report on Monday, April 13th. Finally, Scotiabank began coverage on shares of Unitil in a research report on Friday, April 10th. They issued a “sector perform” rating and a $57.00 price target on the stock. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.00.

Unitil Stock Performance

Unitil stock traded up $0.64 during mid-day trading on Tuesday, reaching $49.92. 8,703 shares of the stock traded hands, compared to its average volume of 118,291. Unitil has a 12-month low of $44.61 and a 12-month high of $58.02. The business’s 50-day moving average is $52.60 and its 200-day moving average is $50.64. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.57 and a quick ratio of 0.52. The stock has a market capitalization of $897.77 million, a PE ratio of 15.80 and a beta of 0.33.

Unitil (NYSE:UTL) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $216.90 million for 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%. As a group, sell-side analysts predict that Unitil will post 3.31 EPS for the current fiscal year.

Unitil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be given a $0.475 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.90 dividend on an annualized basis and a yield of 3.8%. Unitil’s dividend payout ratio is presently 60.13%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in UTL. Swiss National Bank increased its holdings in Unitil by 1.7% in the 1st quarter. Swiss National Bank now owns 35,400 shares of the utilities provider’s stock worth $1,849,000 after acquiring an additional 600 shares in the last quarter. Heartland Advisors Inc. purchased a new position in Unitil during the first quarter valued at approximately $7,836,000. Bessemer Group Inc. boosted its position in shares of Unitil by 196.1% in the first quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 404 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Unitil in the first quarter worth approximately $316,000. Finally, Principal Financial Group Inc. increased its stake in shares of Unitil by 2.4% in the first quarter. Principal Financial Group Inc. now owns 87,396 shares of the utilities provider’s stock worth $4,566,000 after purchasing an additional 2,027 shares in the last quarter. 76.76% of the stock is owned by hedge funds and other institutional investors.

About Unitil

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.