Unitil (NYSE:UTL) Sets New 1-Year High – Still a Buy?

Unitil Corporation (NYSE:UTL) hit a new 52-week high on Thursday . The company traded as high as $55.68 and last traded at $54.9650, with a volume of 6314 shares changing hands. The stock had previously closed at $55.33.

Analysts Set New Price Targets

Several analysts have issued reports on UTL shares. Wall Street Zen lowered Unitil from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Zacks Research raised shares of Unitil to a “hold” rating in a research note on Monday, April 13th. Freedom Capital lowered shares of Unitil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Wells Fargo & Company started coverage on shares of Unitil in a research note on Monday, May 11th. They issued an “equal weight” rating and a $56.00 price objective for the company. Finally, Scotiabank started coverage on shares of Unitil in a report on Friday, April 10th. They set a “sector perform” rating and a $57.00 target price on the stock. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.50.

Unitil Trading Up 0.5%

The stock has a market capitalization of $999.70 million, a P/E ratio of 17.59 and a beta of 0.31. The firm’s 50 day moving average price is $52.19 and its 200 day moving average price is $51.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.57 and a quick ratio of 0.53.

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

Unitil Dividend Announcement

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 annualized dividend and a yield of 3.4%. Unitil’s dividend payout ratio (DPR) is 60.13%.

Institutional Investors Weigh In On Unitil

A number of large investors have recently made changes to their positions in UTL. Vanguard Group Inc. raised its holdings in shares of Unitil by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 1,538,652 shares of the utilities provider’s stock valued at $74,532,000 after acquiring an additional 67,456 shares in the last quarter. State Street Corp lifted its stake in Unitil by 4.5% in the fourth quarter. State Street Corp now owns 721,277 shares of the utilities provider’s stock worth $34,939,000 after acquiring an additional 31,186 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Unitil by 17.8% in the second quarter. The Manufacturers Life Insurance Company now owns 717,423 shares of the utilities provider’s stock valued at $37,414,000 after acquiring an additional 108,254 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Unitil by 94.0% in the fourth quarter. Wellington Management Group LLP now owns 601,260 shares of the utilities provider’s stock valued at $29,125,000 after acquiring an additional 291,325 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Unitil by 23.5% during the 1st quarter. Renaissance Technologies LLC now owns 490,041 shares of the utilities provider’s stock valued at $25,600,000 after purchasing an additional 93,101 shares during the period. 76.76% of the stock is currently owned by institutional investors.

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.