Unitil Corporation (NYSE:UTL) Sees Large Increase in Short Interest

Key Points

• Unitil Corporation experienced a **79.8% increase in short interest** in September, totaling **354,300 shares** by month-end, indicating heightened trader sentiment towards the stock.
• Institutional investors own **76.76%** of Unitil's stock, with significant increases in holdings from firms like Exchange Traded Concepts LLC, which raised its stake by **195.9%** in the third quarter.
• The company announced a quarterly dividend of **$0.45 per share** on August 28th, resulting in an annualized payout of **$1.80** and a yield of **3.6%**.

Unitil Corporation (NYSE:UTL - Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 354,300 shares, an increase of 79.8% from the September 15th total of 197,000 shares. Based on an average daily volume of 110,800 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily volume of 110,800 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Investors Weigh In On Unitil

Institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its stake in Unitil by 6.6% during the third quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the utilities provider's stock worth $388,000 after purchasing an additional 500 shares during the period. Boston Trust Walden Corp lifted its stake in Unitil by 10.6% during the third quarter. Boston Trust Walden Corp now owns 413,641 shares of the utilities provider's stock worth $19,797,000 after purchasing an additional 39,511 shares during the period. Inspire Investing LLC lifted its stake in Unitil by 23.9% during the third quarter. Inspire Investing LLC now owns 9,466 shares of the utilities provider's stock worth $453,000 after purchasing an additional 1,825 shares during the period. Exchange Traded Concepts LLC lifted its stake in Unitil by 195.9% during the third quarter. Exchange Traded Concepts LLC now owns 43,760 shares of the utilities provider's stock worth $2,094,000 after purchasing an additional 28,973 shares during the period. Finally, Wedge Capital Management L L P NC lifted its stake in Unitil by 36.5% during the third quarter. Wedge Capital Management L L P NC now owns 43,136 shares of the utilities provider's stock worth $2,064,000 after purchasing an additional 11,534 shares during the period. 76.76% of the stock is owned by institutional investors and hedge funds.

Unitil Stock Performance

UTL stock traded up $0.14 during trading on Wednesday, reaching $49.86. 75,317 shares of the stock were exchanged, compared to its average volume of 97,711. Unitil has a twelve month low of $44.61 and a twelve month high of $61.51. The company has a market capitalization of $881.99 million, a P/E ratio of 17.13 and a beta of 0.65. The stock has a 50 day simple moving average of $46.99 and a 200-day simple moving average of $51.53. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 1.19.

Unitil (NYSE:UTL - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. Unitil had a return on equity of 9.46% and a net margin of 9.54%.The business had revenue of $101.00 million for the quarter, compared to the consensus estimate of $101.00 million. As a group, sell-side analysts anticipate that Unitil will post 3.08 earnings per share for the current year.

Unitil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.6%. Unitil's dividend payout ratio (DPR) is 61.86%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Unitil in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $55.00.

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.

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