Unitil (NYSE:UTL) Announces Quarterly Earnings Results

Unitil (NYSE:UTL) released its quarterly earnings results on Monday. The utilities provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03, Zacks reports. The company had revenue of $113.19 million for the quarter, compared to the consensus estimate of $113.19 million. Unitil had a net margin of 9.60% and a return on equity of 9.89%.

Unitil Trading Down 0.6%

Shares of NYSE UTL opened at $53.63 on Tuesday. 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 has a 12 month low of $44.61 and a 12 month high of $57.26. The company has a market cap of $964.88 million, a price-to-earnings ratio of 16.97 and a beta of 0.31. The business has a fifty day simple moving average of $52.60 and a 200-day simple moving average of $52.12.

Unitil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.5%. Unitil’s payout ratio is 60.13%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UTL. Wells Fargo & Company started 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Unitil in a research note on Monday, June 29th. Wall Street Zen cut Unitil from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Freedom Capital downgraded Unitil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Scotiabank initiated coverage on Unitil in a research note on Friday, April 10th. They set a “sector perform” rating and a $57.00 target price for the company. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.50.

Hedge Funds Weigh In On Unitil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in Unitil by 37.0% during the 1st quarter. AQR Capital Management LLC now owns 12,083 shares of the utilities provider’s stock valued at $697,000 after purchasing an additional 3,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 valued at $547,000 after buying an additional 391 shares in the last quarter. Millennium Management LLC raised its position in Unitil by 64.6% during the first quarter. Millennium Management LLC now owns 86,678 shares of the utilities provider’s stock valued at $5,000,000 after buying an additional 34,017 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Unitil by 18.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 67,293 shares of the utilities provider’s stock valued at $3,882,000 after buying an additional 10,572 shares during the period. Finally, Jane Street Group LLC lifted its stake in Unitil by 63.3% in the 1st quarter. Jane Street Group LLC now owns 33,529 shares of the utilities provider’s stock worth $1,934,000 after acquiring an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.

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.