Zacks Investment Research Downgrades UNITIL (UTL) to Hold

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

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

Several other analysts also recently issued reports on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $47.00 price target on shares of UNITIL in a research report on Wednesday, October 18th. BidaskClub raised shares of UNITIL from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th.

Shares of UNITIL (NYSE:UTL) opened at $50.74 on Wednesday. UNITIL has a 52-week low of $42.90 and a 52-week high of $52.84. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.56 and a quick ratio of 0.53. The stock has a market cap of $732.73, a price-to-earnings ratio of 25.94 and a beta of 0.20.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of UTL. Foundry Partners LLC grew its position in UNITIL by 162.9% in the 3rd quarter. Foundry Partners LLC now owns 104,155 shares of the utilities provider’s stock valued at $5,152,000 after purchasing an additional 64,532 shares during the period. Eagle Boston Investment Management Inc. boosted its holdings in UNITIL by 53.0% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 153,316 shares of the utilities provider’s stock worth $7,701,000 after acquiring an additional 53,138 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in UNITIL 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 acquiring an additional 37,500 shares during the last quarter. Spark Investment Management LLC purchased a new position in UNITIL during the 2nd quarter worth $1,454,000. Finally, Dimensional Fund Advisors LP boosted its holdings in UNITIL by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 510,860 shares of the utilities provider’s stock worth $23,004,000 after acquiring an additional 28,709 shares during the last quarter. 60.66% of the stock is owned by institutional investors and hedge funds.

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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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