UNITIL Corporation (NYSE:UTL) Rating Increased to Buy at BidaskClub
UNITIL Corporation (NYSE:UTL) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Separately, Zacks Investment Research cut UNITIL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th.
UNITIL Corporation (UTL) traded down 0.3947% during mid-day trading on Thursday, hitting $50.1712. 1,393 shares of the stock were exchanged. The firm has a 50-day moving average price of $49.61 and a 200-day moving average price of $47.02. UNITIL Corporation has a 12-month low of $37.31 and a 12-month high of $52.20. The stock has a market capitalization of $708.17 million, a P/E ratio of 24.1092 and a beta of 0.21.
UNITIL Corporation (NYSE:UTL) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. UNITIL Corporation had a return on equity of 9.88% and a net margin of 7.52%. The company had revenue of $80.80 million during the quarter, compared to analyst estimates of $78.10 million. During the same period in the previous year, the company earned $0.18 EPS. Equities analysts predict that UNITIL Corporation will post $2.00 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in UTL. BNP Paribas Arbitrage SA boosted its position in UNITIL Corporation by 293.5% in the second quarter. BNP Paribas Arbitrage SA now owns 2,349 shares of the utilities provider’s stock valued at $113,000 after buying an additional 1,752 shares during the period. O Shaughnessy Asset Management LLC boosted its position in UNITIL Corporation by 11.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,511 shares of the utilities provider’s stock valued at $203,000 after buying an additional 464 shares during the period. Schroder Investment Management Group boosted its position in UNITIL Corporation by 29.4% in the first quarter. Schroder Investment Management Group now owns 4,908 shares of the utilities provider’s stock valued at $221,000 after buying an additional 1,114 shares during the period. Strs Ohio boosted its position in UNITIL Corporation by 6.8% in the second quarter. Strs Ohio now owns 6,300 shares of the utilities provider’s stock valued at $304,000 after buying an additional 400 shares during the period. Finally, Bank of Montreal Can boosted its position in UNITIL Corporation by 1.9% in the first quarter. Bank of Montreal Can now owns 6,770 shares of the utilities provider’s stock valued at $305,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 58.90% of the company’s stock.
UNITIL Corporation 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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