M&T Bank Corp Sells 14,828 Shares of Unitil Corporation (NYSE:UTL)

M&T Bank Corp decreased its position in Unitil Corporation (NYSE:UTL - Free Report) by 43.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,443 shares of the utilities provider's stock after selling 14,828 shares during the quarter. M&T Bank Corp owned approximately 0.12% of Unitil worth $1,122,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of UTL. US Bancorp DE increased its position in shares of Unitil by 8,333.3% during the fourth quarter. US Bancorp DE now owns 2,024 shares of the utilities provider's stock valued at $110,000 after buying an additional 2,000 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Unitil during the fourth quarter valued at about $2,082,000. PNC Financial Services Group Inc. boosted its stake in Unitil by 14.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,703 shares of the utilities provider's stock worth $309,000 after acquiring an additional 709 shares in the last quarter. Amundi grew its holdings in Unitil by 183.3% in the fourth quarter. Amundi now owns 7,875 shares of the utilities provider's stock worth $414,000 after purchasing an additional 5,095 shares during the period. Finally, American Century Companies Inc. grew its holdings in Unitil by 10.4% in the fourth quarter. American Century Companies Inc. now owns 36,436 shares of the utilities provider's stock worth $1,974,000 after purchasing an additional 3,428 shares during the period. Hedge funds and other institutional investors own 76.76% of the company's stock.

Unitil Stock Down 1.5%

UTL traded down $0.80 during midday trading on Tuesday, reaching $51.15. The company's stock had a trading volume of 70,537 shares, compared to its average volume of 63,154. The firm has a market capitalization of $831.70 million, a price-to-earnings ratio of 17.46 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 Corporation has a 1 year low of $51.04 and a 1 year high of $63.52. The stock's 50-day moving average is $53.25 and its 200-day moving average is $54.93.

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

Unitil Announces Dividend

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

Unitil Company 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.