Heartland Advisors Inc. Purchases New Holdings in Unitil Corporation $UTL

Key Points

• Heartland Advisors Inc. opened a new position in Unitil during the first quarter, buying 150,000 shares worth about $7.84 million. The stake represented roughly 0.83% of the company at quarter-end.
• Unitil continues to see heavy institutional ownership, with major investors like Vanguard, State Street, and Wellington also increasing their holdings. Overall, hedge funds and other institutions own 76.76% of the stock.
• The utility reported better-than-expected earnings and revenue in its latest quarter, and it recently paid a quarterly dividend of $0.475 per share, yielding about 3.5%. Analysts currently rate the stock a Hold on average, with a consensus price target of $56.50.

Heartland Advisors Inc. purchased a new position in Unitil Corporation (NYSE:UTL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,000 shares of the utilities provider's stock, valued at approximately $7,836,000. Heartland Advisors Inc. owned approximately 0.83% of Unitil at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Unitil by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 1,538,652 shares of the utilities provider's stock valued at $74,532,000 after acquiring an additional 67,456 shares during the last quarter. State Street Corp boosted its holdings in Unitil by 4.5% in the 4th quarter. State Street Corp now owns 721,277 shares of the utilities provider's stock valued at $34,939,000 after purchasing an additional 31,186 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Unitil by 17.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 717,423 shares of the utilities provider's stock valued at $37,414,000 after purchasing an additional 108,254 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Unitil by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 608,084 shares of the utilities provider's stock valued at $29,103,000 after buying an additional 14,894 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Unitil by 94.0% during 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 during the last quarter. Hedge funds and other institutional investors own 76.76% of the company's stock.

Unitil Stock Performance

Shares of UTL stock opened at $54.45 on Friday. The stock's 50-day moving average is $51.78 and its two-hundred day moving average is $51.64. Unitil Corporation has a 1 year low of $44.61 and a 1 year high of $55.59. The firm has a market cap of $979.50 million, a price-to-earnings ratio of 17.23 and a beta of 0.31. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.57.

Unitil (NYSE:UTL - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $216.90 million during the quarter, compared to analysts' expectations of $179.13 million. Unitil had a return on equity of 9.89% and a net margin of 9.60%. Analysts predict that Unitil Corporation will post 3.31 earnings per share for the current year.

Unitil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were given a dividend of $0.475 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.90 annualized dividend and a yield of 3.5%. Unitil's payout ratio is presently 60.13%.

Wall Street Analyst Weigh In

A number of research firms recently commented on UTL. Freedom Capital cut Unitil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Zacks Research raised Unitil to a "hold" rating in a research note on Monday, April 13th. Wells Fargo & Company initiated coverage on Unitil in a research report on Monday, May 11th. They set an "equal weight" rating and a $56.00 price objective for the company. Scotiabank assumed coverage on shares of Unitil in a research note on Friday, April 10th. They issued a "sector perform" rating and a $57.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Unitil in a research report on Monday, June 29th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $56.50.

Unitil Company 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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