Unitil (NYSE:UTL) Share Price Passes Above 200 Day Moving Average – What’s Next?

Unitil Corporation (NYSE:UTL)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $51.16 and traded as high as $53.66. Unitil shares last traded at $52.40, with a volume of 574,198 shares.

Analyst Upgrades and Downgrades

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

Unitil Stock Up 2.5%

The stock has a fifty day moving average of $51.41 and a 200 day moving average of $51.18. The firm has a market capitalization of $966.96 million, a P/E ratio of 17.01 and a beta of 0.32. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.57 and a quick ratio of 0.53.

Unitil (NYSE:UTL) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. The firm had revenue of $216.90 million during 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%. On average, research analysts anticipate that Unitil Corporation will post 3.31 EPS for the current fiscal year.

Unitil Announces Dividend

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

Institutional Investors Weigh In On Unitil

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Unitil by 94.0% during the fourth quarter. Wellington Management Group LLP now owns 601,260 shares of the utilities provider’s stock worth $29,125,000 after acquiring an additional 291,325 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in shares of Unitil in the third quarter valued at $8,338,000. Heartland Advisors Inc. bought a new stake in shares of Unitil during the 1st quarter valued at $7,836,000. The Manufacturers Life Insurance Company raised its stake in shares of Unitil by 17.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 717,423 shares of the utilities provider’s stock valued at $37,414,000 after purchasing an additional 108,254 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Unitil by 23.5% during the 1st quarter. Renaissance Technologies LLC now owns 490,041 shares of the utilities provider’s stock worth $25,600,000 after purchasing an additional 93,101 shares in the last quarter. 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.