UNITIL Corporation (NYSE:UTL) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Shareholders of record on Wednesday, November 15th will be given a dividend of 0.36 per share by the utilities provider on Wednesday, November 29th. This represents a $1.44 annualized dividend and a yield of 2.85%. The ex-dividend date is Tuesday, November 14th.
UNITIL Corporation has increased its dividend payment by an average of 1.0% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. UNITIL Corporation has a payout ratio of 70.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect UNITIL Corporation to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 66.7%.
UNITIL Corporation (NYSE UTL) opened at $50.49 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.53 and a current ratio of 0.56. UNITIL Corporation has a 52-week low of $40.40 and a 52-week high of $52.84. The stock has a market capitalization of $712.96, a P/E ratio of 25.25 and a beta of 0.21.
UNITIL Corporation (NYSE:UTL) last released its earnings results on Thursday, October 26th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. UNITIL Corporation had a return on equity of 9.39% and a net margin of 7.09%. The company had revenue of $475.20 million for the quarter, compared to analysts’ expectations of $82.80 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. sell-side analysts forecast that UNITIL Corporation will post 2.03 earnings per share for the current fiscal year.
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UTL has been the topic of several recent analyst reports. Zacks Investment Research cut UNITIL Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub cut UNITIL Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $47.00 target price on shares of UNITIL Corporation in a research report on Monday, September 18th.
About UNITIL Corporation
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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