Unitil (NYSE:UTL) Hits New 1-Year High – Here’s Why

Unitil Corporation (NYSE:UTL) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $55.59 and last traded at $54.8150, with a volume of 16743 shares changing hands. The stock had previously closed at $54.41.

Analysts Set New Price Targets

A number of research firms have weighed in on UTL. Wells Fargo & Company initiated coverage on Unitil in a research note on Monday, May 11th. They set an “equal weight” rating and a $56.00 price objective for the company. Wall Street Zen cut Unitil from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Zacks Research raised Unitil to a “hold” rating in a report on Monday, April 13th. Freedom Capital downgraded Unitil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Unitil in a research note on Monday, June 29th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Unitil has an average rating of “Hold” and an average price target of $56.50.

Unitil Stock Up 0.3%

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 fifty day simple moving average of $51.70 and a two-hundred day simple moving average of $51.62. The company has a market cap of $981.98 million, a PE ratio of 17.28 and a beta of 0.31.

Unitil (NYSE:UTL) last released its earnings results on Monday, May 4th. The utilities provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $216.90 million during the quarter, compared to analyst estimates of $179.13 million. Unitil had a net margin of 9.60% and a return on equity of 9.89%. As a group, equities research analysts predict that Unitil Corporation will post 3.31 earnings per share for the current year.

Unitil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.475 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.90 dividend on an annualized basis and a yield of 3.5%. Unitil’s dividend payout ratio is presently 60.13%.

Hedge Funds Weigh In On Unitil

A number of institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of Unitil during the 4th quarter worth $26,000. Larson Financial Group LLC acquired a new position in shares of Unitil in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Unitil in the 3rd quarter valued at approximately $29,000. Bessemer Group Inc. raised its position in Unitil by 196.1% in the first quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 404 shares during the period. Finally, Quarry LP purchased a new stake in Unitil in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.76% of the company’s stock.

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.