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

The Manufacturers Life Insurance Company boosted its holdings in Unitil Co. (NYSE:UTL - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,944 shares of the utilities provider's stock after purchasing an additional 49,130 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 3.46% of Unitil worth $30,398,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of UTL. Sterling Capital Management LLC lifted its position in Unitil by 798.2% in the 4th 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 during the last quarter. US Bancorp DE lifted its holdings in Unitil by 8,333.3% in the 4th quarter. US Bancorp DE now owns 2,024 shares of the utilities provider's stock valued at $110,000 after acquiring an additional 2,000 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Unitil during the fourth quarter worth approximately $166,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Unitil in the 4th quarter worth $244,000. Finally, Mariner LLC raised its holdings in Unitil by 20.4% during the 4th quarter. Mariner LLC now owns 5,163 shares of the utilities provider's stock worth $280,000 after buying an additional 875 shares during the period. Institutional investors own 76.76% of the company's stock.

Unitil Stock Down 0.0 %

Shares of UTL traded down $0.01 during midday trading on Friday, reaching $59.00. 36,957 shares of the stock were exchanged, compared to its average volume of 61,911. The firm has a 50 day simple moving average of $56.91 and a 200-day simple moving average of $56.52. Unitil Co. has a 12-month low of $48.94 and a 12-month high of $63.52. The company has a market cap of $958.43 million, a price-to-earnings ratio of 20.13 and a beta of 0.58. 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 Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.05%. Unitil's dividend payout ratio is currently 61.43%.

Wall Street Analyst Weigh In

Separately, Guggenheim reaffirmed a "neutral" rating and issued a $55.00 target price on shares of Unitil in a research report 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.