Unitil (NYSE:UTL) Issues Quarterly Earnings Results

Unitil (NYSE:UTL) issued its quarterly earnings results on Monday. The utilities provider reported $0.29 EPS for the quarter, topping 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 Stock Performance

UTL stock traded down $0.31 during midday trading on Monday, hitting $53.63. The stock had a trading volume of 156,473 shares, compared to its average volume of 126,684. The firm has a market capitalization of $964.88 million, a price-to-earnings 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 stock has a 50-day simple moving average of $52.57 and a 200 day simple moving average of $52.09. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99.

Unitil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, August 17th. Unitil’s dividend payout ratio is presently 60.13%.

Hedge Funds Weigh In On Unitil

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Unitil during the 3rd quarter worth about $29,000. Quarry LP bought a new stake in Unitil in the third quarter valued at about $32,000. State of Wyoming acquired a new position in Unitil in the second quarter worth about $103,000. Tower Research Capital LLC TRC raised its position in Unitil by 207.5% in the second 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, Federation des caisses Desjardins du Quebec lifted its stake in Unitil by 25.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 3,364 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 690 shares during the period. Institutional investors and hedge funds own 76.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UTL. Wells Fargo & Company initiated 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 on the stock. Zacks Research raised shares of Unitil to a “hold” rating in a report on Monday, April 13th. Scotiabank initiated coverage on shares of Unitil in a research report on Friday, April 10th. They issued a “sector perform” rating and a $57.00 price target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Unitil in a report on Monday, June 29th. Finally, Wall Street Zen lowered shares of Unitil from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.50.

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.