Raymond James Financial Inc. Takes Position in Unitil Co. (NYSE:UTL)

Raymond James Financial Inc. bought a new stake in Unitil Co. (NYSE:UTL - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 38,430 shares of the utilities provider's stock, valued at approximately $2,082,000. Raymond James Financial Inc. owned approximately 0.24% of Unitil as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of UTL. Invesco Ltd. increased its stake in shares of Unitil by 5.7% during the 4th quarter. Invesco Ltd. now owns 117,280 shares of the utilities provider's stock worth $6,355,000 after purchasing an additional 6,335 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Unitil in the fourth quarter worth $451,000. Wells Fargo & Company MN raised its stake in shares of Unitil by 22.4% in the fourth quarter. Wells Fargo & Company MN now owns 12,338 shares of the utilities provider's stock valued at $669,000 after buying an additional 2,256 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Unitil during the 4th quarter valued at $441,000. Finally, Geode Capital Management LLC grew its stake in shares of Unitil by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 382,883 shares of the utilities provider's stock worth $20,754,000 after acquiring an additional 1,225 shares during the period. 76.76% of the stock is owned by hedge funds and other institutional investors.

Unitil Price Performance

Shares of UTL traded down $0.01 during mid-day trading on Friday, reaching $59.00. 36,957 shares of the stock traded hands, compared to its average volume of 61,807. Unitil Co. has a 1 year low of $48.94 and a 1 year high of $63.52. The firm has a fifty day moving average price of $56.91 and a 200 day moving average price of $56.54. 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 company has a market cap of $958.43 million, a price-to-earnings ratio of 20.13 and a beta of 0.58.

Unitil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, May 15th. Unitil's payout ratio is 61.43%.

Analyst Ratings Changes

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

Unitil Company 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.