Unitil (NYSE:UTL) Issues Earnings Results

Unitil (NYSE:UTL) released its earnings results on Monday. The utilities provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02, Zacks reports. The company had revenue of $216.90 million for the quarter, compared to analyst estimates of $179.13 million. Unitil had a net margin of 9.37% and a return on equity of 9.38%.

Unitil Trading Up 1.1%

Shares of UTL stock opened at $52.44 on Tuesday. The firm has a market cap of $943.45 million, a P/E ratio of 17.48 and a beta of 0.33. Unitil has a 1-year low of $44.61 and a 1-year high of $59.99. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.56 and a quick ratio of 0.52. The firm’s 50-day simple moving average is $52.68 and its 200-day simple moving average is $50.62.

Unitil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, May 14th. Unitil’s dividend payout ratio is presently 63.33%.

Analyst Ratings Changes

A number of research analysts have issued reports on UTL shares. Scotiabank started coverage on shares of Unitil in a report on Friday, April 10th. They issued a “sector perform” rating and a $57.00 target price on the stock. Wall Street Zen lowered shares of Unitil from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Zacks Research upgraded shares of Unitil to a “hold” rating in a report on Monday, April 13th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in shares of Unitil during the 3rd quarter worth about $290,000. Brevan Howard Capital Management LP purchased a new position in shares of Unitil during the 2nd quarter worth about $290,000. BNP Paribas Financial Markets lifted its holdings in shares of Unitil by 7.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,220 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 344 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Unitil by 88.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,201 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 2,444 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Unitil during the 2nd quarter worth about $245,000. 76.76% of the stock is currently owned by hedge funds and other institutional investors.

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.