Vanguard Group Inc. Raises Holdings in Unitil Corporation $UTL

Key Points

• Vanguard Group Inc. increased its stake in Unitil Corporation (NYSE:UTL) by 6.4%, owning approximately 8.40% of the company, worth about $78.76 million after acquiring an additional 82,137 shares in the 1st quarter.
• Unitil recently reported a quarterly earnings per share (EPS) of $0.29, exceeding analysts' expectations, and has announced a quarterly dividend of $0.45 per share, with a dividend yield of 3.8%.
• The company's stock is currently trading at $47.85, with a market cap of $846.28 million and a recent trading increase of 2.5%.

Vanguard Group Inc. boosted its holdings in Unitil Corporation (NYSE:UTL - Free Report) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,365,282 shares of the utilities provider's stock after buying an additional 82,137 shares during the quarter. Vanguard Group Inc. owned approximately 8.40% of Unitil worth $78,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in UTL. Sterling Capital Management LLC boosted its stake in shares of Unitil by 798.2% during the fourth quarter. Sterling Capital Management LLC now owns 512 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 455 shares in the last quarter. GAMMA Investing LLC increased its holdings in Unitil by 27.8% in the first quarter. GAMMA Investing LLC now owns 887 shares of the utilities provider's stock worth $51,000 after purchasing an additional 193 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Unitil in the fourth quarter worth approximately $166,000. Mackenzie Financial Corp bought a new stake in Unitil in the first quarter worth approximately $212,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Unitil in the first quarter worth approximately $220,000. 76.76% of the stock is owned by institutional investors and hedge funds.

Unitil Stock Down 1.6%

Shares of NYSE UTL traded down $0.76 during midday trading on Thursday, hitting $46.81. 42,057 shares of the stock traded hands, compared to its average volume of 71,417. The company has a market cap of $827.98 million, a PE ratio of 16.08 and a beta of 0.66. Unitil Corporation has a one year low of $46.31 and a one year high of $63.52. The business has a 50 day moving average price of $50.69 and a two-hundred day moving average price of $54.14. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.52 and a current ratio of 0.58.

Unitil (NYSE:UTL - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $101.00 million during the quarter, compared to the consensus estimate of $101.00 million. Unitil had a return on equity of 9.46% and a net margin of 9.54%. On average, equities analysts predict that Unitil Corporation will post 3.08 EPS for the current year.

Unitil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.80 annualized dividend and a dividend yield of 3.8%. Unitil's payout ratio is presently 61.86%.

About Unitil

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.