Unitil (NYSE:UTL) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Unitil (NYSE:UTL) announced its quarterly earnings results on Monday. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.10, Zacks reports. Unitil had a net margin of 9.32% and a return on equity of 9.04%.

Unitil Stock Up 0.6%

Shares of Unitil stock traded up $0.31 during trading on Monday, reaching $50.88. The stock had a trading volume of 107,089 shares, compared to its average volume of 85,499. Unitil has a 52 week low of $44.61 and a 52 week high of $59.99. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 1.06. The stock has a fifty day moving average price of $49.45 and a two-hundred day moving average price of $48.61. The company has a market capitalization of $911.82 million, a price-to-earnings ratio of 17.61 and a beta of 0.49.

Unitil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be given a $0.475 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $1.90 annualized dividend and a yield of 3.7%. This is an increase from Unitil’s previous quarterly dividend of $0.45. Unitil’s payout ratio is presently 62.28%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UTL. Wall Street Zen lowered shares of Unitil from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Unitil in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Institutional Investors Weigh In On Unitil

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in Unitil during the 3rd quarter worth about $29,000. Quarry LP bought a new position in Unitil in the third quarter valued at approximately $32,000. State of Wyoming bought a new position in Unitil in the second quarter valued at approximately $103,000. Tower Research Capital LLC TRC raised its stake in shares of Unitil by 207.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,257 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 1,523 shares in the last quarter. Finally, Virtus Advisers LLC bought a new stake in shares of Unitil during the 3rd quarter worth approximately $200,000. 76.76% of the stock is owned by 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.