UNITIL (UTL) Rating Lowered to Hold at Zacks Investment Research

UNITIL (NYSE:UTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Unitil Corporation is a registered public utility holding company and the parent company of the Unitil System. “

Several other research analysts have also recently weighed in on UTL. Royal Bank Of Canada restated a “hold” rating and set a $47.00 target price on shares of UNITIL in a report on Tuesday, August 15th. BidaskClub upgraded UNITIL from a “hold” rating to a “buy” rating in a report on Thursday, August 10th.

UNITIL (NYSE:UTL) traded down $0.15 during mid-day trading on Wednesday, reaching $50.79. The company had a trading volume of 97,500 shares, compared to its average volume of 39,197. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 1.04. UNITIL has a 12 month low of $42.99 and a 12 month high of $52.84. The firm has a market cap of $719.32, a PE ratio of 25.47 and a beta of 0.20.

UNITIL (NYSE:UTL) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. UNITIL had a return on equity of 9.39% and a net margin of 7.09%. The company had revenue of $475.20 million for the quarter, compared to analysts’ expectations of $82.80 million. During the same period in the previous year, the firm posted $0.25 EPS. UNITIL’s revenue was down 3.4% compared to the same quarter last year. equities research analysts anticipate that UNITIL will post 2.03 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UTL. Teachers Advisors LLC lifted its holdings in UNITIL by 4.2% in the first quarter. Teachers Advisors LLC now owns 29,563 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 1,185 shares during the last quarter. Vanguard Group Inc. raised its position in UNITIL by 1.6% in the first quarter. Vanguard Group Inc. now owns 776,801 shares of the utilities provider’s stock valued at $34,980,000 after purchasing an additional 12,119 shares during the period. Dimensional Fund Advisors LP raised its position in UNITIL by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 510,860 shares of the utilities provider’s stock valued at $23,004,000 after purchasing an additional 28,709 shares during the period. Schwab Charles Investment Management Inc. raised its position in UNITIL by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 64,186 shares of the utilities provider’s stock valued at $2,891,000 after purchasing an additional 3,060 shares during the period. Finally, State Street Corp raised its position in UNITIL by 0.4% in the first quarter. State Street Corp now owns 342,812 shares of the utilities provider’s stock valued at $15,445,000 after purchasing an additional 1,346 shares during the period. Hedge funds and other institutional investors own 60.66% of the company’s stock.

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UNITIL Company Profile

Unitil Corporation is a public utility holding company. The Company’s principal business is the local distribution of electricity in the southeastern seacoast and state capital regions of New Hampshire and the greater Fitchburg area of north central Massachusetts and the local distribution of natural gas in southeastern New Hampshire, portions of southern Maine to the Lewiston-Auburn area and in the greater Fitchburg area of north central Massachusetts.

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