Unitil Corporation (NYSE:UTL – Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $50.76 and traded as high as $51.89. Unitil shares last traded at $51.8070, with a volume of 59,875 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages have commented on UTL. Freedom Capital cut shares of Unitil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wells Fargo & Company started coverage on Unitil in a report on Monday, May 11th. They issued an “equal weight” rating and a $56.00 price objective for the company. Zacks Research upgraded Unitil to a “hold” rating in a report on Monday, April 13th. Scotiabank initiated coverage on Unitil in a research report on Friday, April 10th. They set a “sector perform” rating and a $57.00 target price for the company. Finally, Wall Street Zen cut Unitil from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.50.
Read Our Latest Analysis on UTL
Unitil Stock Performance
Unitil (NYSE:UTL – Get Free Report) last posted its earnings results 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. Unitil had a return on equity of 9.89% and a net margin of 9.60%.The firm had revenue of $216.90 million for the quarter, compared to analyst estimates of $179.13 million. On average, 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 will be paid on Friday, May 29th. Investors 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 annualized dividend and a dividend yield of 3.7%. Unitil’s payout ratio is currently 60.13%.
Institutional Trading of Unitil
Several hedge funds have recently bought and sold shares of UTL. Commonwealth Equity Services LLC lifted its stake in Unitil by 2.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,519 shares of the utilities provider’s stock valued at $510,000 after buying an additional 215 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Unitil by 2.4% during the fourth quarter. State of Alaska Department of Revenue now owns 9,624 shares of the utilities provider’s stock worth $465,000 after acquiring an additional 223 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Unitil by 2.5% during the fourth quarter. Inspire Investing LLC now owns 9,698 shares of the utilities provider’s stock worth $470,000 after acquiring an additional 232 shares during the period. Jones Financial Companies Lllp lifted its position in Unitil by 100.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 568 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 284 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Unitil by 3.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,812 shares of the utilities provider’s stock valued at $427,000 after acquiring an additional 312 shares in the last quarter. 76.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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