Unitil (NYSE:UTL) Upgraded by Wells Fargo & Company to “Hold” Rating

Wells Fargo & Company upgraded shares of Unitil (NYSE:UTL) to a hold rating in a research report released on Monday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Scotiabank assumed coverage on shares of Unitil in a research report on Friday, April 10th. They issued a “sector perform” rating and a $57.00 target price on the stock. Wall Street Zen downgraded shares of Unitil from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Zacks Research raised Unitil to a “hold” rating in a report on Monday, April 13th. Finally, Freedom Capital lowered Unitil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Unitil has an average rating of “Hold” and a consensus target price of $56.50.

Unitil Stock Performance

Unitil stock opened at $50.80 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 0.99. The stock has a market cap of $913.87 million, a PE ratio of 16.07 and a beta of 0.33. Unitil has a 12-month low of $44.61 and a 12-month high of $55.96. The business’s 50-day moving average price is $52.52 and its two-hundred day moving average price is $50.67.

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

Unitil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Thursday, May 14th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.7%. The ex-dividend date is Thursday, May 14th. Unitil’s dividend payout ratio is 60.13%.

Institutional Trading of Unitil

Several institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Unitil in the fourth quarter valued at $26,000. Jones Financial Companies Lllp grew its position in shares of 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 buying an additional 284 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Unitil in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Unitil in the third quarter valued at about $29,000. Finally, Bessemer Group Inc. raised its position in shares of Unitil by 196.1% during the first quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 404 shares during the last quarter. Institutional investors 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.