Unitil (NYSE:UTL) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded Unitil to a "Hold" rating, and the stock carries an average analyst rating of Hold with a consensus price target of $57.00.
• Unitil beat quarterly expectations, reporting $1.13 EPS versus $1.03 expected and $161.5M in revenue, while analysts forecast about 3.08 EPS for the current year.
• Institutional ownership is high (76.76%), with large managers like AQR, Millennium, UBS and Jane Street increasing stakes during the first quarter.

Unitil (NYSE:UTL - Get Free Report) was upgraded by equities researchers at Zacks Research to a "hold" rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the company. Scotiabank began coverage on Unitil in a report on Friday, April 10th. They issued a "sector perform" rating and a $57.00 price target for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Unitil in a report on Monday, December 29th. Finally, Wall Street Zen lowered Unitil from a "buy" rating to a "hold" rating in a research note on Monday. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $57.00.

Unitil Price Performance

Unitil stock opened at $53.98 on Monday. Unitil has a one year low of $44.61 and a one year high of $59.99. The business has a fifty day moving average price of $52.44 and a 200-day moving average price of $50.17. 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 $971.10 million, a P/E ratio of 17.99 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 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.10. Unitil had a return on equity of 9.38% and a net margin of 9.37%.The firm had revenue of $161.50 million during the quarter, compared to analyst estimates of $144.45 million. As a group, equities research analysts forecast that Unitil will post 3.08 EPS for the current year.

Institutional Investors Weigh In On Unitil

A number of large investors have recently added to or reduced their stakes in UTL. AQR Capital Management LLC raised its position in Unitil by 37.0% during the first quarter. AQR Capital Management LLC now owns 12,083 shares of the utilities provider's stock valued at $697,000 after purchasing an additional 3,263 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Unitil by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,478 shares of the utilities provider's stock valued at $547,000 after purchasing an additional 391 shares in the last quarter. Millennium Management LLC raised its position in Unitil by 64.6% during the first quarter. Millennium Management LLC now owns 86,678 shares of the utilities provider's stock valued at $5,000,000 after purchasing an additional 34,017 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Unitil by 18.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 67,293 shares of the utilities provider's stock valued at $3,882,000 after purchasing an additional 10,572 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Unitil by 63.3% during the first quarter. Jane Street Group LLC now owns 33,529 shares of the utilities provider's stock valued at $1,934,000 after purchasing an additional 13,000 shares in the last quarter. Hedge funds and other institutional investors own 76.76% of the company's stock.

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.

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