Great Lakes Advisors LLC Buys New Stake in Unitil Corporation $UTL

Key Points

• Great Lakes Advisors acquired 43,366 Unitil shares worth approximately $2.285 million, giving it about a 0.24% stake. Institutional investors collectively own 76.76% of the utility company, with several other firms also initiating or expanding positions.
• Unitil reported quarterly EPS of $0.29, beating analysts’ $0.26 estimate, while revenue reached $113.19 million. Analysts expect full-year EPS of $3.31.
• Unitil declared a quarterly dividend of $0.475, equivalent to $1.90 annually and a 3.6% yield. Despite a consensus “Hold” rating, analysts’ average price target is $56.50 versus the stock’s $53.35 opening price.

Great Lakes Advisors LLC purchased a new stake in Unitil Corporation (NYSE:UTL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,366 shares of the utilities provider's stock, valued at approximately $2,285,000. Great Lakes Advisors LLC owned approximately 0.24% of Unitil at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Unitil during the 2nd quarter worth about $152,441,000. Deutsche Bank AG purchased a new stake in Unitil during the second quarter worth approximately $2,057,000. Bank of New York Mellon Corp acquired a new position in Unitil in the second quarter valued at approximately $5,730,000. State of Wyoming acquired a new position in Unitil in the second quarter valued at approximately $139,000. Finally, Wedge Capital Management L L P NC increased its stake in Unitil by 87.1% in the second quarter. Wedge Capital Management L L P NC now owns 51,839 shares of the utilities provider's stock valued at $2,731,000 after purchasing an additional 24,131 shares during the last quarter. 76.76% of the stock is owned by hedge funds and other institutional investors.

Unitil Trading Down 1.5%

NYSE UTL opened at $53.35 on Friday. The firm's fifty day moving average is $53.48 and its two-hundred day moving average is $52.47. Unitil Corporation has a one year low of $44.61 and a one year high of $57.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.45 and a current ratio of 0.49. The firm has a market cap of $972.94 million, a PE ratio of 16.83 and a beta of 0.31.

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

Unitil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders 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 (DPR) is 59.94%.

Analysts Set New Price Targets

UTL has been the topic of a number of research analyst reports. Freedom Capital cut shares of Unitil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Wells Fargo & Company started coverage on shares of Unitil in a report on Monday, May 11th. They issued an "equal weight" rating and a $56.00 target price for the company. Finally, Weiss Ratings raised shares of Unitil from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.50.

Unitil Profile

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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