Unitil (NYSE:UTL) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Unitil (NYSE:UTL) from a "buy" to a "hold"; together with other recent coverage the stock's consensus rating is Hold with an average price target of $57.00.
• Recent quarter beat expectations: Unitil reported $1.13 EPS vs. $1.03 expected and revenue of $161.5M vs. $144.45M, while the stock trades around $54.53 with a market cap near $981M and a P/E of 18.18.
• High institutional ownership: about 76.76% of the shares are held by hedge funds and other institutions, with Vanguard and several firms recently increasing or initiating positions.

Unitil (NYSE:UTL - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts have also issued reports on UTL. Weiss Ratings reiterated a "hold (c-)" rating on shares of Unitil in a report on Monday, December 29th. Scotiabank initiated coverage on shares of Unitil in a report on Friday. They set a "sector perform" rating and a $57.00 target price on the stock. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Unitil presently has an average rating of "Hold" and an average price target of $57.00.

Unitil Stock Performance

NYSE:UTL opened at $54.53 on Monday. The company's 50-day moving average is $52.31 and its two-hundred day moving average is $50.07. 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 has a market capitalization of $980.78 million, a price-to-earnings ratio of 18.18 and a beta of 0.45.

Unitil (NYSE:UTL - Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.10. Unitil had a net margin of 9.37% and a return on equity of 9.38%. The business had revenue of $161.50 million during the quarter, compared to analysts' expectations of $144.45 million. Analysts forecast that Unitil will post 3.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Unitil by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,471,196 shares of the utilities provider's stock valued at $70,411,000 after acquiring an additional 68,820 shares during the last quarter. Aventail Capital Group LP bought a new position in Unitil during the 3rd quarter valued at $3,031,000. Exchange Traded Concepts LLC raised its holdings in shares of Unitil by 195.9% during the third quarter. Exchange Traded Concepts LLC now owns 43,760 shares of the utilities provider's stock worth $2,094,000 after purchasing an additional 28,973 shares during the period. Reaves W H & Co. Inc. acquired a new stake in shares of Unitil during the third quarter worth $13,162,000. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Unitil by 36.5% during the third quarter. Wedge Capital Management L L P NC now owns 43,136 shares of the utilities provider's stock worth $2,064,000 after purchasing an additional 11,534 shares during the period. 76.76% of the stock is 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.

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