UNITIL Corporation (UTL) Earns “Hold” Rating from Royal Bank Of Canada
UNITIL Corporation (NYSE:UTL)‘s stock had its “hold” rating reissued by stock analysts at Royal Bank Of Canada in a note issued to investors on Tuesday. They currently have a $47.00 price target on the utilities provider’s stock. Royal Bank Of Canada’s target price suggests a potential downside of 5.75% from the stock’s previous close.
Several other brokerages have also commented on UTL. Zacks Investment Research lowered shares of UNITIL Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of UNITIL Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st.
Shares of UNITIL Corporation (NYSE:UTL) traded down 0.80% during trading on Tuesday, hitting $49.47. The stock had a trading volume of 21,999 shares. UNITIL Corporation has a one year low of $37.31 and a one year high of $52.20. The stock has a market cap of $698.27 million, a P/E ratio of 23.77 and a beta of 0.21. The stock’s 50 day moving average price is $49.71 and its 200-day moving average price is $47.10.
UNITIL Corporation (NYSE:UTL) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. UNITIL Corporation had a net margin of 7.52% and a return on equity of 9.88%. The firm had revenue of $80.80 million for the quarter, compared to analyst estimates of $78.10 million. During the same period last year, the business earned $0.18 EPS. Analysts expect that UNITIL Corporation will post $2.00 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of UTL. Martingale Asset Management L P raised its position in UNITIL Corporation by 3.2% in the first quarter. Martingale Asset Management L P now owns 83,607 shares of the utilities provider’s stock worth $3,765,000 after buying an additional 2,600 shares in the last quarter. Eagle Boston Investment Management Inc. raised its position in UNITIL Corporation by 5.6% in the first quarter. Eagle Boston Investment Management Inc. now owns 94,508 shares of the utilities provider’s stock worth $4,255,000 after buying an additional 5,049 shares in the last quarter. TFS Capital LLC acquired a new position in UNITIL Corporation during the first quarter worth approximately $348,000. Pax World Management LLC raised its position in UNITIL Corporation by 2.1% in the first quarter. Pax World Management LLC now owns 383,023 shares of the utilities provider’s stock worth $17,248,000 after buying an additional 8,023 shares in the last quarter. Finally, Sei Investments Co. raised its position in UNITIL Corporation by 113.3% in the first quarter. Sei Investments Co. now owns 21,281 shares of the utilities provider’s stock worth $958,000 after buying an additional 11,304 shares in the last quarter. Institutional investors own 59.00% 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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