Bank of America downgraded shares of Unitil (NYSE:UTL) from a neutral rating to an underperform rating in a research report sent to investors on Friday, Marketbeat reports. The analysts noted that the move was a valuation call.
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Unitil from a sell rating to a hold rating in a report on Saturday, February 10th. Janney Montgomery Scott upgraded shares of Unitil to a buy rating and set a $50.00 price target on the stock in a report on Monday, January 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $51.00.
Shares of UTL opened at $45.45 on Friday. The firm has a market capitalization of $689.88, a price-to-earnings ratio of 22.06 and a beta of 0.09. Unitil has a fifty-two week low of $40.92 and a fifty-two week high of $52.84. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 1.13.
Several institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in shares of Unitil in the 4th quarter valued at $339,000. TIAA CREF Investment Management LLC raised its stake in shares of Unitil by 18.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 49,626 shares of the utilities provider’s stock valued at $2,264,000 after acquiring an additional 7,783 shares during the period. Two Sigma Investments LP raised its stake in shares of Unitil by 118.8% in the 4th quarter. Two Sigma Investments LP now owns 57,692 shares of the utilities provider’s stock valued at $2,632,000 after acquiring an additional 31,330 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Unitil by 3.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 97,480 shares of the utilities provider’s stock valued at $4,447,000 after acquiring an additional 3,625 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Unitil in the 4th quarter valued at $753,000. Institutional investors own 62.44% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Bank of America Lowers Unitil (UTL) to Underperform” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2018/04/16/bank-of-america-lowers-unitil-utl-to-underperform.html.
Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas in the United States. It operates through three segments: Utility Gas Operations, Utility Electric 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, portions of southern Maine to the Lewiston-Auburn area, and in the greater Fitchburg area of north central Massachusetts.
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.