Unitil (NYSE:UTL) Hits New 1-Year High – Here’s Why

Unitil Corporation (NYSE:UTL) shares reached a new 52-week high during trading on Friday . The stock traded as high as $55.59 and last traded at $54.8150, with a volume of 16743 shares traded. The stock had previously closed at $54.41.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on UTL shares. Wall Street Zen cut Unitil from a “buy” rating to a “hold” rating in a research note on Monday, April 13th. Scotiabank assumed coverage on Unitil in a research note on Friday, April 10th. They set a “sector perform” rating and a $57.00 target price on the stock. Zacks Research upgraded Unitil to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company assumed coverage on Unitil in a research report on Monday, May 11th. They issued an “equal weight” rating and a $56.00 target price for the company. Finally, Freedom Capital lowered shares of Unitil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Unitil currently has a consensus rating of “Hold” and a consensus target price of $56.50.

Unitil Trading Up 0.3%

The company has a fifty day simple moving average of $51.70 and a two-hundred day simple moving average of $51.62. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The company has a market cap of $981.98 million, a PE ratio of 17.28 and a beta of 0.31.

Unitil (NYSE:UTL) last posted its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The company had revenue of $216.90 million for the quarter, compared to analyst estimates of $179.13 million. Unitil had a return on equity of 9.89% and a net margin of 9.60%. Analysts anticipate that Unitil Corporation will post 3.31 EPS for the current year.

Unitil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, May 14th. Unitil’s dividend payout ratio is presently 60.13%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in Unitil by 2.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,519 shares of the utilities provider’s stock worth $510,000 after acquiring an additional 215 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Unitil by 2.4% in the 4th quarter. State of Alaska Department of Revenue now owns 9,624 shares of the utilities provider’s stock valued at $465,000 after purchasing an additional 223 shares during the last quarter. Inspire Investing LLC increased its position in shares of Unitil by 2.5% in the 4th quarter. Inspire Investing LLC now owns 9,698 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 232 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Unitil by 3.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,812 shares of the utilities provider’s stock valued at $427,000 after purchasing an additional 312 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its holdings in shares of Unitil by 0.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 69,773 shares of the utilities provider’s stock valued at $3,380,000 after purchasing an additional 320 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.