Unitil Corporation $UTL Stock Holdings Increased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Unitil position by 23.5% in the first quarter, owning 490,041 shares worth approximately $25.6 million. Institutional investors collectively hold 76.76% of the utility company.
• Analysts maintain a consensus “Hold” rating on Unitil, with an average price target of $56.50, slightly above the reported share price of $55.08.
• Unitil exceeded quarterly earnings expectations with $1.88 in EPS and $216.9 million in revenue, and declared a quarterly dividend of $0.475 per share, representing a 3.4% annualized yield.

Renaissance Technologies LLC grew its position in shares of Unitil Corporation (NYSE:UTL - Free Report) by 23.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 490,041 shares of the utilities provider's stock after buying an additional 93,101 shares during the period. Renaissance Technologies LLC owned about 2.72% of Unitil worth $25,600,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in UTL. International Assets Investment Management LLC bought a new position in Unitil during the fourth quarter worth $26,000. Larson Financial Group LLC acquired a new stake in shares of Unitil during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Unitil in the 3rd quarter worth about $29,000. Bessemer Group Inc. boosted its holdings in shares of Unitil by 196.1% in the 1st quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider's stock valued at $32,000 after buying an additional 404 shares during the period. Finally, Quarry LP bought a new stake in shares of Unitil during the 3rd quarter valued at about $32,000. 76.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Scotiabank began coverage on shares of Unitil in a report on Friday, April 10th. They issued a "sector perform" rating and a $57.00 target price on the stock. Zacks Research upgraded Unitil to a "hold" rating in a research report on Monday, April 13th. Freedom Capital downgraded Unitil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. Wells Fargo & Company initiated coverage on Unitil in a research report on Monday, May 11th. They set an "equal weight" rating and a $56.00 price objective for the company. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Unitil in a research note on Monday, June 29th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.50.

Unitil Trading Down 1.6%

Shares of UTL stock opened at $55.08 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.57. Unitil Corporation has a 1 year low of $44.61 and a 1 year high of $57.26. The stock has a fifty day moving average of $52.47 and a two-hundred day moving average of $52.02. The firm has a market capitalization of $990.96 million, a PE ratio of 17.43 and a beta of 0.31.

Unitil (NYSE:UTL - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.02. The company had revenue of $216.90 million for the quarter, compared to analyst estimates of $179.13 million. Unitil had a return on equity of 9.89% and a net margin of 9.60%. As a group, research analysts expect that Unitil Corporation will post 3.31 EPS for the current year.

Unitil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, August 17th. Unitil's payout ratio is 60.13%.

Unitil Company 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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