Unitil (NYSE:UTL) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Shares of Unitil crossed above its 200-day moving average, trading as high as $52.23 compared with the 200‑day MA of $50.39, on volume of about 79,462 shares.
• Analysts collectively rate the stock a Hold (three analysts) with a consensus target price of $57.00 after recent coverage changes from Scotiabank, Weiss Ratings, Zacks and Wall Street Zen.
• Recent fundamentals: Unitil reported an earnings beat (EPS $1.13 vs. $1.03 est.), revenue topped estimates, and the company raised its quarterly dividend to $0.475 (annualized yield ~3.7%).

Shares of Unitil Corporation (NYSE:UTL - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.39 and traded as high as $52.23. Unitil shares last traded at $51.6350, with a volume of 79,462 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on UTL shares. Scotiabank started coverage on shares of Unitil in a research note on Friday, April 10th. They issued a "sector perform" rating and a $57.00 target price for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Unitil in a research note on Monday, December 29th. Zacks Research upgraded shares of Unitil to a "hold" rating in a research note on Monday, April 13th. Finally, Wall Street Zen cut shares of Unitil from a "buy" rating to a "hold" rating in a research note on Monday, April 13th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $57.00.

Unitil Price Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.52 and a current ratio of 0.56. The company's fifty day simple moving average is $52.65 and its two-hundred day simple moving average is $50.39. The stock has a market capitalization of $928.91 million, a PE ratio of 17.21 and a beta of 0.45.

Unitil (NYSE:UTL - Get Free Report) last posted its 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 firm had revenue of $161.50 million during the quarter, compared to the consensus estimate of $144.45 million. As a group, sell-side analysts predict that Unitil Corporation will post 3.31 EPS for the current year.

Unitil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 12th were issued a dividend of $0.475 per share. This is an increase from Unitil's previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 12th. This represents a $1.90 annualized dividend and a yield of 3.7%. Unitil's payout ratio is 63.33%.

Hedge Funds Weigh In On Unitil

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in shares of Unitil during the fourth quarter worth about $26,000. Jones Financial Companies Lllp grew its holdings in shares of Unitil by 100.0% during the third quarter. Jones Financial Companies Lllp now owns 568 shares of the utilities provider's stock worth $27,000 after buying an additional 284 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Unitil during the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Unitil during the third quarter worth about $29,000. Finally, Quarry LP purchased a new stake in shares of Unitil during the third quarter worth about $32,000. 76.76% of the stock is currently 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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