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

Shares of Unitil Corporation (NYSE:UTL) have earned an average rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $56.50.

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

Institutional Trading of Unitil

Several large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Unitil during the fourth quarter worth approximately $26,000. Larson Financial Group LLC acquired a new position in shares of Unitil during the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Unitil during the third quarter worth approximately $29,000. Bessemer Group Inc. lifted its position in shares of Unitil by 196.1% during 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 in the last quarter. Finally, Quarry LP acquired a new position in shares of Unitil during the third quarter worth approximately $32,000. 76.76% of the stock is owned by institutional investors.

Unitil Stock Performance

NYSE UTL opened at $53.17 on Tuesday. The stock has a market cap of $956.56 million, a P/E ratio of 16.83 and a beta of 0.32. The company’s 50-day simple moving average is $51.41 and its 200 day simple moving average is $51.24. Unitil has a twelve month low of $44.61 and a twelve month high of $55.08. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 0.99.

Unitil (NYSE:UTL) last issued 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 for the quarter, compared to analysts’ expectations of $179.13 million. Unitil had a net margin of 9.60% and a return on equity of 9.89%. As a group, research analysts forecast that Unitil will post 3.31 earnings per share for the current fiscal year.

Unitil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, May 14th. Unitil’s dividend payout ratio is currently 60.13%.

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.