Unitil (NYSE:UTL) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Unitil Corporation (NYSE:UTL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $51.03 and traded as high as $52.07. Unitil shares last traded at $51.8590, with a volume of 80,585 shares trading hands.

Analyst Ratings Changes

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

Unitil Price Performance

The business’s 50-day moving average price is $51.83 and its 200 day moving average price is $51.03. The company has a market capitalization of $932.94 million, a P/E ratio of 16.41 and a beta of 0.32. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 0.99.

Unitil (NYSE:UTL) last posted its earnings results on Monday, May 4th. The utilities provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Unitil had a net margin of 9.60% and a return on equity of 9.89%. The business had revenue of $216.90 million for the quarter, compared to analyst estimates of $179.13 million. Analysts anticipate that Unitil Corporation will post 3.31 EPS for the current fiscal year.

Unitil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Thursday, May 14th were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.7%. Unitil’s dividend payout ratio is presently 60.13%.

Institutional Investors Weigh In On Unitil

Several large investors have recently added to or reduced their stakes in UTL. Vanguard Group Inc. grew its position in Unitil by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 1,538,652 shares of the utilities provider’s stock worth $74,532,000 after buying an additional 67,456 shares in the last quarter. State Street Corp raised its holdings in shares of Unitil by 4.5% in the 4th quarter. State Street Corp now owns 721,277 shares of the utilities provider’s stock valued at $34,939,000 after acquiring an additional 31,186 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position 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 acquiring an additional 108,254 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Unitil by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 608,084 shares of the utilities provider’s stock valued at $29,103,000 after acquiring an additional 14,894 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings 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 purchasing an additional 291,325 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.