Unitil (NYSE:UTL) Posts Earnings Results, Beats Estimates By $0.03 EPS

Unitil (NYSE:UTL) announced its quarterly earnings results on Monday. The utilities provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03, Zacks reports. Unitil had a return on equity of 9.89% and a net margin of 9.60%.

Unitil Price Performance

NYSE:UTL traded down $0.31 during trading hours on Monday, hitting $53.63. 156,473 shares of the company’s stock traded hands, compared to its average volume of 126,681. The firm has a market cap of $964.88 million, a P/E ratio of 16.97 and a beta of 0.31. Unitil has a 52 week low of $44.61 and a 52 week high of $57.26. The business’s fifty day simple moving average is $52.57 and its two-hundred day simple moving average is $52.09. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.90 annualized dividend and a yield of 3.5%. Unitil’s dividend payout ratio (DPR) is currently 60.13%.

Analysts Set New Price Targets

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

Institutional Trading of Unitil

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its holdings in shares of Unitil by 4.5% in the 4th quarter. State Street Corp now owns 721,277 shares of the utilities provider’s stock valued at $34,939,000 after acquiring an additional 31,186 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Unitil by 17.8% during the second quarter. The Manufacturers Life Insurance Company now owns 717,423 shares of the utilities provider’s stock worth $37,414,000 after purchasing an additional 108,254 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Unitil by 94.0% in the fourth quarter. Wellington Management Group LLP now owns 601,260 shares of the utilities provider’s stock worth $29,125,000 after purchasing an additional 291,325 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Unitil by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 424,163 shares of the utilities provider’s stock worth $20,548,000 after purchasing an additional 24,492 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Unitil by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,215 shares of the utilities provider’s stock valued at $12,992,000 after purchasing an additional 46,797 shares in the last quarter. 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.