Hsbc Holdings PLC Invests $1.01 Million in Unitil Corporation $UTL

Key Points

• Hsbc Holdings PLC purchased 19,059 Unitil shares valued at approximately $1.01 million, while institutional investors and hedge funds collectively own 76.76% of the company.
• Unitil reported quarterly earnings of $0.29 per share, exceeding analyst expectations of $0.26, on revenue of $113.19 million.
• The company declared a quarterly dividend of $0.475, equivalent to $1.90 annually and a 3.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $56.50.

Hsbc Holdings PLC purchased a new stake in shares of Unitil Corporation (NYSE:UTL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,059 shares of the utilities provider's stock, valued at approximately $1,012,000. Hsbc Holdings PLC owned approximately 0.10% of Unitil at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of UTL. BlackRock Inc. acquired a new stake in Unitil during the 2nd quarter worth about $152,441,000. The Manufacturers Life Insurance Company purchased a new stake in Unitil in the 2nd quarter worth approximately $26,864,000. 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 stake in shares of Unitil during the 2nd quarter valued at $12,242,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Unitil during the 2nd quarter valued at $5,730,000. 76.76% of the stock is owned by institutional investors and hedge funds.

Unitil Stock Performance

Shares of UTL stock opened at $53.54 on Wednesday. Unitil Corporation has a 12 month low of $44.61 and a 12 month high of $57.26. The company has a market cap of $976.57 million, a PE ratio of 16.89 and a beta of 0.32. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 1.06. The business's 50 day moving average is $53.79 and its two-hundred day moving average is $52.61.

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

Unitil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 17th. Unitil's dividend payout ratio (DPR) is currently 59.94%.

Analyst Ratings Changes

Several equities research analysts recently commented on UTL shares. Freedom Capital cut Unitil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 5th. Wells Fargo & Company started coverage on shares of Unitil in a research note on Monday, May 11th. They set an "equal weight" rating and a $56.00 price target on the stock. Finally, Weiss Ratings raised shares of Unitil from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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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