Deutsche Bank AG Makes New $2.06 Million Investment in Unitil Corporation $UTL

Key Points

• Deutsche Bank AG acquired 39,040 Unitil shares worth approximately $2.06 million during the second quarter, giving it about a 0.21% stake.
• Institutional investors and hedge funds own 76.76% of Unitil, with Wellington Management nearly doubling its position and several other firms initiating or increasing holdings.
• Unitil exceeded quarterly earnings expectations with EPS of $0.29 versus the $0.26 consensus estimate and declared a $0.475 quarterly dividend, equivalent to a 3.6% yield. Analysts maintain an average “Hold” rating with a $56.50 price target.

Deutsche Bank AG bought a new stake in Unitil Corporation (NYSE:UTL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,040 shares of the utilities provider's stock, valued at approximately $2,057,000. Deutsche Bank AG owned approximately 0.21% of Unitil as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP lifted its position in Unitil by 94.0% in the 4th quarter. Wellington Management Group LLP now owns 601,260 shares of the utilities provider's stock worth $29,125,000 after buying an additional 291,325 shares in the last quarter. Heartland Advisors Inc. acquired a new position in shares of Unitil in the first quarter worth $7,836,000. Bank of New York Mellon Corp acquired a new position in shares of Unitil in the second quarter worth $5,730,000. The Manufacturers Life Insurance Company raised its holdings in shares of Unitil by 17.8% during the second quarter. The Manufacturers Life Insurance Company now owns 717,423 shares of the utilities provider's stock worth $37,414,000 after acquiring an additional 108,254 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Unitil by 23.5% during the first quarter. Renaissance Technologies LLC now owns 490,041 shares of the utilities provider's stock worth $25,600,000 after acquiring an additional 93,101 shares in the last quarter. Institutional investors and hedge funds own 76.76% of the company's stock.

Unitil Stock Performance

UTL opened at $53.30 on Friday. The stock's 50 day simple moving average is $53.71 and its 200-day simple moving average is $52.56. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 1.06. The stock has a market cap of $972.19 million, a PE ratio of 16.81 and a beta of 0.31. Unitil Corporation has a 1 year low of $44.61 and a 1 year high of $57.26.

Unitil (NYSE:UTL - Get Free Report) last issued its earnings results on Monday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. Unitil had a net margin of 9.49% and a return on equity of 9.53%. The business had revenue of $113.19 million for the quarter, compared to analyst estimates of $113.19 million. Sell-side analysts forecast that Unitil Corporation will post 3.31 EPS for the current year.

Unitil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 17th. Unitil's dividend payout ratio is currently 59.94%.

Analysts Set New Price Targets

A number of research firms have issued reports on UTL. Wells Fargo & Company started 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. Freedom Capital lowered shares of Unitil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Unitil from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Unitil has an average rating of "Hold" and an average target price of $56.50.

About Unitil

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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