Unitil (NYSE:UTL) Rating Lowered to Hold at Freedom Capital

Unitil (NYSE:UTL) was downgraded by Freedom Capital from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

UTL has been the subject of a number of other reports. Wall Street Zen lowered Unitil from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Scotiabank assumed coverage on Unitil in a research report on Friday, April 10th. They set a “sector perform” rating and a $57.00 target price for the company. Finally, Zacks Research upgraded Unitil to a “hold” rating in a research report on Monday, April 13th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Unitil currently has an average rating of “Hold” and a consensus target price of $57.00.

Unitil Trading Up 1.3%

UTL stock traded up $0.64 during midday trading on Tuesday, reaching $49.92. The stock had a trading volume of 10,075 shares, compared to its average volume of 118,325. The business has a fifty day simple moving average of $52.60 and a two-hundred day simple moving average of $50.64. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.99. The firm has a market cap of $897.81 million, a price-to-earnings ratio of 15.80 and a beta of 0.33. Unitil has a twelve month low of $44.61 and a twelve month high of $58.02.

Unitil (NYSE:UTL) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts expect that Unitil will post 3.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Unitil

Several institutional investors have recently modified their holdings of UTL. International Assets Investment Management LLC bought a new position in shares of Unitil during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp lifted its holdings in shares of Unitil by 100.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 568 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 284 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Unitil during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Unitil during the 3rd quarter valued at about $29,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Unitil by 196.1% during the 1st quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 76.76% of the company’s stock.

About Unitil

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.