The Manufacturers Life Insurance Company Purchases 49,130 Shares of Unitil Co. (NYSE:UTL)

The Manufacturers Life Insurance Company boosted its stake in shares of Unitil Co. (NYSE:UTL - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 560,944 shares of the utilities provider's stock after buying an additional 49,130 shares during the period. The Manufacturers Life Insurance Company owned about 3.46% of Unitil worth $30,398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new stake in shares of Unitil during the fourth quarter valued at approximately $1,326,000. Aquatic Capital Management LLC purchased a new position in Unitil during the 4th quarter worth approximately $166,000. Susquehanna Fundamental Investments LLC acquired a new stake in Unitil during the 4th quarter valued at $244,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Unitil by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,884 shares of the utilities provider's stock valued at $644,000 after purchasing an additional 945 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Unitil by 7.5% during the fourth quarter. MetLife Investment Management LLC now owns 9,717 shares of the utilities provider's stock valued at $527,000 after buying an additional 674 shares in the last quarter. 76.76% of the stock is owned by hedge funds and other institutional investors.

Unitil Stock Performance

Shares of UTL stock traded down $1.21 during trading hours on Wednesday, reaching $58.56. 9,784 shares of the company's stock were exchanged, compared to its average volume of 61,688. The business has a fifty day moving average price of $57.04 and a 200-day moving average price of $56.54. The stock has a market capitalization of $951.41 million, a P/E ratio of 19.97 and a beta of 0.67. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.25. Unitil Co. has a fifty-two week low of $48.94 and a fifty-two week high of $63.52.

Unitil (NYSE:UTL - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.04). The firm had revenue of $207.00 million for the quarter, compared to the consensus estimate of $193.03 million. Unitil had a net margin of 9.52% and a return on equity of 9.36%. Analysts predict that Unitil Co. will post 3.08 EPS for the current fiscal year.

Unitil Announces Dividend

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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, May 15th. Unitil's dividend 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 report 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.