M&T Bank Corp Has $1.12 Million Holdings in Unitil Corporation (NYSE:UTL)

M&T Bank Corp decreased its stake in shares of Unitil Corporation (NYSE:UTL - Free Report) by 43.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,443 shares of the utilities provider's stock after selling 14,828 shares during the period. M&T Bank Corp owned 0.12% of Unitil worth $1,122,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in UTL. Envestnet Asset Management Inc. boosted its stake in Unitil by 3.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 11,113 shares of the utilities provider's stock valued at $641,000 after purchasing an additional 368 shares during the period. Principal Financial Group Inc. boosted its stake in Unitil by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 86,782 shares of the utilities provider's stock valued at $5,006,000 after purchasing an additional 2,505 shares during the period. Teacher Retirement System of Texas bought a new stake in Unitil during the 1st quarter valued at approximately $687,000. Johnson Investment Counsel Inc. boosted its stake in Unitil by 17.9% during the 1st quarter. Johnson Investment Counsel Inc. now owns 66,640 shares of the utilities provider's stock valued at $3,844,000 after purchasing an additional 10,100 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in Unitil by 12.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 14,503 shares of the utilities provider's stock valued at $837,000 after purchasing an additional 1,660 shares during the period. Institutional investors and hedge funds own 76.76% of the company's stock.

Unitil Stock Performance

NYSE:UTL traded down $0.05 during mid-day trading on Thursday, hitting $51.08. 79,000 shares of the company's stock traded hands, compared to its average volume of 63,119. The firm has a 50 day moving average of $52.99 and a two-hundred day moving average of $54.89. Unitil Corporation has a 12 month low of $50.45 and a 12 month high of $63.52. The firm has a market capitalization of $830.63 million, a price-to-earnings ratio of 17.43 and a beta of 0.63. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.19.

Unitil (NYSE:UTL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.04). Unitil had a net margin of 9.74% and a return on equity of 9.49%. The business had revenue of $207.00 million for the quarter, compared to the consensus estimate of $193.03 million. On average, equities analysts forecast that Unitil Corporation will post 3.08 earnings per share for the current fiscal year.

Unitil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.80 annualized dividend and a yield of 3.52%. Unitil's dividend payout ratio (DPR) is 61.43%.

Unitil Profile

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through two segments, Utility Electric Operations, Utility Gas Operations. The company distributes electricity in the southeastern seacoast and state capital regions of New Hampshire, and the greater Fitchburg area of north central Massachusetts; and distributes natural gas in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area, as well as electricity and natural gas in the greater Fitchburg area of north central Massachusetts.