UNITIL Corporation (NYSE:UTL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $58.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.54% from the stock’s current price.
According to Zacks, “Unitil Corporation is a registered public utility holding company and the parent company of the Unitil System. “
A number of other brokerages have also weighed in on UTL. Royal Bank Of Canada restated a “hold” rating and set a $47.00 price objective on shares of UNITIL Corporation in a research report on Wednesday, October 18th. BidaskClub downgraded UNITIL Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st.
Shares of UNITIL Corporation (UTL) traded down 0.63% during trading on Wednesday, hitting $51.67. The stock had a trading volume of 7,401 shares. The stock has a 50 day moving average price of $50.73 and a 200-day moving average price of $49.31. The stock has a market capitalization of $729.32 million, a price-to-earnings ratio of 24.83 and a beta of 0.21. UNITIL Corporation has a one year low of $39.25 and a one year high of $52.84.
UNITIL Corporation (NYSE:UTL) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $475.20 million for the quarter, compared to analyst estimates of $82.80 million. UNITIL Corporation had a return on equity of 9.39% and a net margin of 7.09%. UNITIL Corporation’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. On average, equities research analysts predict that UNITIL Corporation will post $2.03 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Frontier Capital Management Co. LLC lifted its holdings in UNITIL Corporation by 1.8% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 951,407 shares of the utilities provider’s stock worth $47,057,000 after buying an additional 16,392 shares during the period. Vanguard Group Inc. lifted its holdings in UNITIL Corporation by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 784,082 shares of the utilities provider’s stock worth $37,880,000 after buying an additional 7,281 shares during the period. Renaissance Technologies LLC lifted its holdings in UNITIL Corporation by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 530,500 shares of the utilities provider’s stock worth $25,628,000 after buying an additional 37,500 shares during the period. Dimensional Fund Advisors LP lifted its holdings in UNITIL Corporation by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 527,531 shares of the utilities provider’s stock worth $25,485,000 after buying an additional 16,671 shares during the period. Finally, State Street Corp lifted its holdings in UNITIL Corporation by 3.5% during the 2nd quarter. State Street Corp now owns 354,753 shares of the utilities provider’s stock worth $17,134,000 after buying an additional 11,941 shares during the period. 58.81% of the stock is currently owned by hedge funds and other institutional investors.
UNITIL Corporation 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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