Raymond James Financial Inc. Buys Shares of 38,430 Unitil Co. (NYSE:UTL)

Raymond James Financial Inc. bought a new position in Unitil Co. (NYSE:UTL - Free Report) in the 4th quarter, according to the company in 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 0.24% of Unitil at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Barclays PLC grew its position in Unitil by 139.7% in the third quarter. Barclays PLC now owns 32,834 shares of the utilities provider's stock valued at $1,989,000 after acquiring an additional 19,134 shares in the last quarter. Franklin Resources Inc. grew its holdings in Unitil by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 87,968 shares of the utilities provider's stock valued at $5,171,000 after purchasing an additional 3,795 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Unitil by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 81,392 shares of the utilities provider's stock valued at $4,931,000 after purchasing an additional 1,659 shares in the last quarter. Hennessy Advisors Inc. increased its stake in Unitil by 2.7% during the 4th quarter. Hennessy Advisors Inc. now owns 15,398 shares of the utilities provider's stock worth $834,000 after buying an additional 400 shares during the period. Finally, Wedge Capital Management L L P NC lifted its holdings in Unitil by 11.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 33,689 shares of the utilities provider's stock worth $1,826,000 after buying an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 76.76% of the company's stock.

Analysts Set New Price Targets

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

Unitil Stock Up 1.0 %

Shares of Unitil stock traded up $0.61 on Tuesday, hitting $59.87. 50,807 shares of the company's stock traded hands, compared to its average volume of 61,879. Unitil Co. has a 52-week low of $48.94 and a 52-week high of $63.52. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $972.65 million, a P/E ratio of 20.43 and a beta of 0.67. The firm's 50-day moving average is $57.04 and its 200 day moving average is $56.54.

Unitil (NYSE:UTL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $1.74 EPS for the quarter, missing analysts' consensus estimates of $1.78 by ($0.04). Unitil had a net margin of 9.52% and a return on equity of 9.36%. Equities analysts anticipate that Unitil Co. will post 3.08 earnings per share for the current year.

Unitil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, May 15th. Unitil's dividend payout ratio is currently 61.43%.

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.