Guggenheim Reiterates “Neutral” Rating for Unitil (NYSE:UTL)

Unitil (NYSE:UTL)‘s stock had its “neutral” rating restated by research analysts at Guggenheim in a research report issued on Wednesday,Benzinga reports. They presently have a $55.00 price objective on the utilities provider’s stock. Guggenheim’s price target suggests a potential downside of 2.49% from the company’s previous close.

Unitil Trading Up 0.0 %

Shares of NYSE UTL opened at $56.40 on Wednesday. The company’s 50 day simple moving average is $54.38 and its 200 day simple moving average is $57.57. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.91 and a quick ratio of 0.82. The firm has a market capitalization of $916.32 million, a P/E ratio of 19.25 and a beta of 0.63. Unitil has a fifty-two week low of $47.40 and a fifty-two week high of $63.52.

Institutional Investors Weigh In On Unitil

Several hedge funds have recently bought and sold shares of UTL. State Street Corp increased its position in shares of Unitil by 6.1% in the 3rd quarter. State Street Corp now owns 723,587 shares of the utilities provider’s stock valued at $43,835,000 after buying an additional 41,511 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Unitil by 3.9% in the third quarter. The Manufacturers Life Insurance Company now owns 511,814 shares of the utilities provider’s stock valued at $31,006,000 after acquiring an additional 19,341 shares during the period. Geode Capital Management LLC increased its holdings in shares of Unitil by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 382,883 shares of the utilities provider’s stock worth $20,754,000 after acquiring an additional 1,225 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Unitil by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 203,475 shares of the utilities provider’s stock worth $11,026,000 after purchasing an additional 2,130 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Unitil by 5.7% during the 4th quarter. Invesco Ltd. now owns 117,280 shares of the utilities provider’s stock valued at $6,355,000 after purchasing an additional 6,335 shares in the last quarter. 76.76% of the stock is currently owned by institutional investors and hedge funds.

Unitil Company Profile

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through two segments, Utility Electric Operations, Utility Gas Operations. 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 electricity and natural gas in the greater Fitchburg area of north central Massachusetts.