Unitil Corporation $UTL Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in Unitil, boosting holdings by 17,616.8% in the first quarter to 21,083 shares valued at about $1.1 million.
• Several analysts remain cautious on Unitil, with recent rating changes leaving the stock at an overall Hold consensus and an average price target of $56.50.
• Unitil reported stronger-than-expected quarterly results, posting $1.88 EPS versus the $1.86 estimate and paying a quarterly dividend of $0.475 per share, implying a 3.4% annual yield.

Fifth Third Bancorp boosted its stake in Unitil Corporation (NYSE:UTL - Free Report) by 17,616.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,083 shares of the utilities provider's stock after buying an additional 20,964 shares during the quarter. Fifth Third Bancorp owned approximately 0.12% of Unitil worth $1,101,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of Unitil in the fourth quarter worth approximately $26,000. Larson Financial Group LLC purchased a new position in Unitil in the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Unitil during the third quarter worth $29,000. Quarry LP acquired a new stake in shares of Unitil in the third quarter valued at about $32,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Unitil during the fourth quarter worth about $48,000. 76.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Unitil to a "hold" rating in a research note on Monday, April 13th. Freedom Capital lowered Unitil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 5th. Scotiabank assumed coverage on Unitil in a report on Friday, April 10th. They issued a "sector perform" rating and a $57.00 price target for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Unitil in a research report on Monday, June 29th. Finally, Wall Street Zen lowered Unitil from a "buy" rating to a "hold" rating in a research note on Monday, April 13th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $56.50.

Unitil Stock Performance

NYSE:UTL opened at $55.57 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.57. The stock has a market capitalization of $999.70 million, a P/E ratio of 17.59 and a beta of 0.31. The company has a 50 day moving average price of $52.19 and a 200 day moving average price of $51.86. Unitil Corporation has a fifty-two week low of $44.61 and a fifty-two week high of $56.18.

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

Unitil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.90 annualized dividend and a yield of 3.4%. Unitil's dividend payout ratio is presently 60.13%.

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.

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.