Unitil (NYSE:UTL) Posts Earnings Results

Unitil (NYSE:UTL) posted its quarterly earnings results on Monday. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06, Zacks reports. Unitil had a net margin of 9.54% and a return on equity of 9.46%.

Unitil Stock Performance

UTL traded up $0.57 on Monday, reaching $49.32. The stock had a trading volume of 147,179 shares, compared to its average volume of 80,060. The business’s 50-day moving average price is $47.24 and its two-hundred day moving average price is $51.08. Unitil has a 12-month low of $44.61 and a 12-month high of $61.51. The company has a market cap of $872.27 million, a P/E ratio of 16.95 and a beta of 0.65. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 1.19.

Unitil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.6%. Unitil’s payout ratio is presently 61.86%.

Institutional Trading of Unitil

Several institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in Unitil by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 44,653 shares of the utilities provider’s stock worth $2,329,000 after purchasing an additional 5,220 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Unitil by 7.8% in the second quarter. Raymond James Financial Inc. now owns 43,034 shares of the utilities provider’s stock valued at $2,244,000 after purchasing an additional 3,104 shares in the last quarter. Man Group plc increased its holdings in shares of Unitil by 80.4% in the second quarter. Man Group plc now owns 32,257 shares of the utilities provider’s stock valued at $1,682,000 after purchasing an additional 14,381 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Unitil by 3.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 25,025 shares of the utilities provider’s stock worth $1,305,000 after buying an additional 844 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Unitil by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,478 shares of the utilities provider’s stock worth $547,000 after buying an additional 391 shares in the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Unitil in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Unitil presently has an average rating of “Hold” and a consensus target price of $55.00.

Unitil Company Profile

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through two segments, Utility Electric Operations, Utility Gas Operations. The company distributes electricity in the southeastern seacoast and state capital regions of New Hampshire, and the greater Fitchburg area of north central Massachusetts; and distributes natural gas in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area, as well as electricity and natural gas in the greater Fitchburg area of north central Massachusetts.