The Manufacturers Life Insurance Company bought a new position in shares of Unitil Corporation (NYSE:UTL - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 509,855 shares of the utilities provider's stock, valued at approximately $26,864,000. The Manufacturers Life Insurance Company owned 2.80% of Unitil as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Unitil during the 2nd quarter valued at about $152,441,000. Vanguard Group Inc. raised its holdings in shares of Unitil by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 1,538,652 shares of the utilities provider's stock worth $74,532,000 after purchasing an additional 67,456 shares in the last quarter. State Street Corp raised its holdings in shares of Unitil by 4.5% in the 4th quarter. State Street Corp now owns 721,277 shares of the utilities provider's stock worth $34,939,000 after purchasing an additional 31,186 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of 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 purchasing an additional 291,325 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Unitil by 23.5% during the first quarter. Renaissance Technologies LLC now owns 490,041 shares of the utilities provider's stock valued at $25,600,000 after purchasing an additional 93,101 shares during the last quarter. 76.76% of the stock is currently owned by institutional investors.
Unitil Price Performance
NYSE UTL opened at $53.45 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 1.06. Unitil Corporation has a 1 year low of $44.61 and a 1 year high of $57.26. The company has a market cap of $974.77 million, a PE ratio of 16.86 and a beta of 0.31. The stock's 50-day moving average price is $53.67 and its two-hundred day moving average price is $52.56.
Unitil (NYSE:UTL - Get Free Report) last announced its earnings results on Monday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. Unitil had a net margin of 9.49% and a return on equity of 9.53%. The company had revenue of $113.19 million during the quarter, compared to analysts' expectations of $113.19 million. On average, analysts predict that Unitil Corporation will post 3.31 EPS for the current year.
Unitil Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given 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 is 59.94%.
Wall Street Analysts Forecast Growth
UTL has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of Unitil in a report on Monday, May 11th. They set an "equal weight" rating and a $56.00 target price for the company. Freedom Capital cut Unitil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded Unitil from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Unitil presently has an average rating of "Hold" and a consensus target price of $56.50.
Read Our Latest Report on Unitil
About Unitil
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding UTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unitil Corporation (NYSE:UTL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Unitil, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Unitil wasn't on the list.
While Unitil currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries. "Physical AI" is coming. Learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
