Connor Clark & Lunn Investment Management Ltd. bought a new position in Unitil Corporation (NYSE:UTL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,696 shares of the utilities provider's stock, valued at approximately $2,250,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Unitil as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of UTL. Allworth Financial LP acquired a new position in Unitil in the second quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new stake in shares of Unitil during the 4th quarter worth approximately $26,000. Larson Financial Group LLC acquired a new stake in shares of Unitil during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Unitil during the 3rd quarter worth approximately $29,000. Finally, Bessemer Group Inc. increased its holdings in shares of Unitil by 196.1% during the 1st quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 404 shares in the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on UTL. Wells Fargo & Company initiated coverage on shares of Unitil in a research note on Monday, May 11th. They issued an "equal weight" rating and a $56.00 target price for the company. Weiss Ratings raised shares of Unitil from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. Finally, Freedom Capital cut shares of Unitil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Unitil presently has an average rating of "Hold" and a consensus price target of $56.50.
Read Our Latest Report on UTL
Unitil Stock Down 0.3%
Unitil stock opened at $53.30 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.45. The stock has a market capitalization of $972.19 million, a PE ratio of 16.81 and a beta of 0.31. The business has a 50 day simple moving average of $53.71 and a 200-day simple moving average of $52.56. Unitil Corporation has a 12 month low of $44.61 and a 12 month high of $57.26.
Unitil (NYSE:UTL - Get Free Report) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. Unitil had a return on equity of 9.53% and a net margin of 9.49%.The firm had revenue of $113.19 million for the quarter, compared to analyst estimates of $113.19 million. On average, analysts anticipate that Unitil Corporation will post 3.31 EPS for the current fiscal year.
Unitil Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.475 per share. The ex-dividend date is Monday, August 17th. This represents a $1.90 dividend on an annualized basis and a yield of 3.6%. Unitil's dividend payout ratio is currently 59.94%.
Unitil Profile
(
Free Report)
Unitil Corporation NYSE: UTL is a publicly traded energy delivery company that provides regulated electric and natural gas distribution services. The company delivers energy to residential, commercial and industrial customers through a network of distribution systems, offering safe and reliable service across its service areas. Unitil's operations include system maintenance, emergency response, meter reading and customer support functions, all governed by state regulatory commissions.
Headquartered in Hampton, New Hampshire, Unitil serves communities in New Hampshire, Massachusetts and Maine.
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