Unitil (NYSE:UTL) Upgraded by Zacks Investment Research to “Buy”

Unitil (NYSE:UTLGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The brokerage currently has a $64.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.64% from the company’s current price.

According to Zacks, “Unitil Corporation is a registered public utility holding company and the parent company of the Unitil System. “

A number of other equities analysts have also commented on the company. StockNews.com upgraded Unitil from a “hold” rating to a “buy” rating in a research note on Monday, May 23rd. Bank of America upgraded Unitil from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $45.00 to $50.00 in a research note on Thursday, February 3rd. They noted that the move was a valuation call.

NYSE UTL opened at $56.32 on Friday. Unitil has a fifty-two week low of $40.53 and a fifty-two week high of $58.87. The stock’s 50-day moving average is $52.36 and its two-hundred day moving average is $48.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.03 and a quick ratio of 0.97. The firm has a market cap of $902.87 million, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 3.50 and a beta of 0.49.

Unitil (NYSE:UTLGet Rating) last posted its earnings results on Tuesday, May 3rd. The utilities provider reported $1.35 earnings per share for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $192.60 million for the quarter, compared to analyst estimates of $160.00 million. Unitil had a return on equity of 8.83% and a net margin of 7.34%. During the same period last year, the company earned $1.26 earnings per share. On average, equities analysts expect that Unitil will post 2.55 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its position in Unitil by 296.3% in the 2nd quarter. Morgan Stanley now owns 72,852 shares of the utilities provider’s stock worth $3,859,000 after purchasing an additional 54,467 shares during the last quarter. BlackRock Inc. raised its position in Unitil by 2.4% in the 3rd quarter. BlackRock Inc. now owns 2,634,321 shares of the utilities provider’s stock worth $112,697,000 after purchasing an additional 60,651 shares during the last quarter. Barclays PLC raised its position in Unitil by 43.1% in the 3rd quarter. Barclays PLC now owns 21,837 shares of the utilities provider’s stock worth $934,000 after purchasing an additional 6,576 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Unitil by 6.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 5,928 shares of the utilities provider’s stock valued at $254,000 after acquiring an additional 354 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Unitil by 4.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,015 shares of the utilities provider’s stock valued at $514,000 after acquiring an additional 471 shares during the last quarter. 72.66% of the stock is currently owned by institutional investors and hedge funds.

About Unitil (Get Rating)

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through three segments: Utility Electric Operations, Utility Gas Operations, and Non-Regulated. The company distributes electricity in the southeastern seacoast and state capital regions of New Hampshire, and the greater Fitchburg area of north central Massachusetts; and distributes natural gas in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area, as well as the greater Fitchburg area of north central Massachusetts.

Featured Stories

Get a free copy of the Zacks research report on Unitil (UTL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Unitil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unitil and related companies with MarketBeat.com's FREE daily email newsletter.