UNITIL (UTL) Coverage Initiated by Analysts at Bank of America

Bank of America began coverage on shares of UNITIL (NYSE:UTL) in a research report sent to investors on Monday, December 18th, Marketbeat reports. The firm issued a neutral rating and a $49.00 target price on the utilities provider’s stock.

A number of other research analysts have also weighed in on UTL. Zacks Investment Research upgraded UNITIL from a sell rating to a hold rating in a report on Thursday, September 28th. Royal Bank of Canada restated a hold rating and issued a $47.00 price objective on shares of UNITIL in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $51.00.

Shares of UNITIL (NYSE:UTL) traded up $0.30 during trading hours on Monday, hitting $43.83. The stock had a trading volume of 43,966 shares, compared to its average volume of 83,483. UNITIL has a 52-week low of $43.03 and a 52-week high of $52.84. The stock has a market cap of $641.11, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 5.26 and a beta of 0.20. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 1.04.

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

Several hedge funds and other institutional investors have recently bought and sold shares of UTL. BNP Paribas Arbitrage SA raised its holdings in shares of UNITIL by 293.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,349 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 1,752 shares during the period. SG Americas Securities LLC acquired a new stake in shares of UNITIL during the 3rd quarter worth about $132,000. Magnetar Financial LLC acquired a new stake in shares of UNITIL during the 3rd quarter worth about $204,000. Neuberger Berman Group LLC acquired a new stake in shares of UNITIL during the 3rd quarter worth about $204,000. Finally, Thrivent Financial For Lutherans acquired a new stake in shares of UNITIL during the 2nd quarter worth about $254,000. Institutional investors and hedge funds own 58.18% of the company’s stock.

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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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