Unitil Corporation (NYSE:UTL) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Unitil has a consensus “Hold” rating from six covering brokerages: five analysts recommend holding the stock and one recommends buying it. The average 12-month price target is $58.67, above its reported opening price of $51.68.
• Unitil exceeded quarterly expectations, reporting $0.29 in earnings per share versus the $0.26 consensus estimate and revenue of $117.0 million compared with expectations of $113.19 million.
• The company pays a quarterly dividend of $0.475 per share, or $1.90 annualized, representing a 3.7% yield and a 59.94% payout ratio. Institutional investors own approximately 76.76% of the stock.

Unitil Corporation (NYSE:UTL - Get Free Report) has earned a consensus rating of "Hold" from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $58.67.

UTL has been the subject of a number of research reports. Weiss Ratings cut Unitil from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, September 8th. Huntington initiated coverage on Unitil in a research report on Monday, September 14th. They issued an "outperform" rating and a $63.00 target price on the stock.

Unitil Price Performance

Shares of UTL opened at $51.68 on Thursday. The firm has a market cap of $942.70 million, a PE ratio of 16.30 and a beta of 0.26. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $52.92 and a two-hundred day simple moving average of $52.57. Unitil has a 1-year low of $46.91 and a 1-year high of $57.26.

Unitil (NYSE:UTL - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $117.00 million for the quarter, compared to analysts' expectations of $113.19 million. Unitil had a return on equity of 9.53% and a net margin of 9.49%. On average, equities analysts anticipate that Unitil will post 3.31 EPS for the current year.

Unitil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.4750 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, August 17th. Unitil's dividend payout ratio is 59.94%.

Institutional Trading of Unitil

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Unitil in the second quarter worth approximately $152,441,000. The Manufacturers Life Insurance Company bought a new stake in shares of Unitil during the 2nd quarter valued at $26,864,000. Renaissance Technologies LLC increased its stake in shares of Unitil by 23.5% in the 1st quarter. Renaissance Technologies LLC now owns 490,041 shares of the utilities provider's stock worth $25,600,000 after purchasing an additional 93,101 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Unitil in the 2nd quarter worth $12,242,000. Finally, HITE Hedge Asset Management LLC raised its holdings in Unitil by 4.6% in the 4th quarter. HITE Hedge Asset Management LLC now owns 182,218 shares of the utilities provider's stock worth $8,827,000 after purchasing an additional 8,000 shares during the period. 76.76% of the stock is currently owned by institutional investors.

Unitil Company Profile

Unitil Corporation is a regulated public utility holding company that provides electric and natural gas distribution services in New England. Through its operating subsidiaries, the company delivers electricity and natural gas to residential, commercial and industrial customers, while maintaining the local infrastructure required to support safe and reliable service.

Unitil's electric operations serve communities in New Hampshire and Massachusetts. Its natural gas businesses provide distribution service primarily in New Hampshire and the greater Fitchburg area of Massachusetts.

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