Franklin Resources Inc. Trims Holdings in Unitil Co. (NYSE:UTL)

Franklin Resources Inc. cut its stake in Unitil Co. (NYSE:UTL - Free Report) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,401 shares of the utilities provider's stock after selling 4,567 shares during the period. Franklin Resources Inc. owned approximately 0.52% of Unitil worth $4,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA lifted its holdings in Unitil by 32.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,374 shares of the utilities provider's stock valued at $291,000 after acquiring an additional 1,304 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Unitil by 7.1% during the fourth quarter. WINTON GROUP Ltd now owns 19,148 shares of the utilities provider's stock valued at $1,038,000 after acquiring an additional 1,277 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Unitil in the 4th quarter worth approximately $385,000. American Century Companies Inc. lifted its stake in Unitil by 10.4% during 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 in the last quarter. Finally, Amundi raised its holdings in shares of Unitil by 183.3% in the 4th quarter. Amundi now owns 7,875 shares of the utilities provider's stock valued at $414,000 after buying an additional 5,095 shares during the period. Institutional investors and hedge funds own 76.76% of the company's stock.

Unitil Stock Performance

Shares of Unitil stock traded up $0.40 during trading hours on Wednesday, hitting $58.33. 2,851 shares of the company were exchanged, compared to its average volume of 61,264. The company has a current ratio of 0.83, a quick ratio of 0.76 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $947.63 million, a price-to-earnings ratio of 19.94 and a beta of 0.58. The business has a 50-day moving average of $56.28 and a 200-day moving average of $56.56. Unitil Co. has a 1 year low of $47.40 and a 1 year high of $63.52.

Unitil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.09%. This is an increase from Unitil's previous quarterly dividend of $0.43. Unitil's dividend payout ratio (DPR) is 61.43%.

Analyst Ratings Changes

Separately, Guggenheim reissued a "neutral" rating and set a $55.00 target price on shares of Unitil in a research note on Wednesday, February 12th.

Unitil 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.