Globeflex Capital L P boosted its stake in shares of Unitil Co. (NYSE:UTL) by 15.6% during the 2nd quarter, Holdings Channel reports. The fund owned 24,093 shares of the utilities provider’s stock after purchasing an additional 3,243 shares during the period. Globeflex Capital L P’s holdings in Unitil were worth $1,230,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake in shares of Unitil by 7.9% in the first quarter. Wells Fargo & Company MN now owns 95,886 shares of the utilities provider’s stock worth $4,449,000 after buying an additional 7,047 shares during the last quarter. Dupont Capital Management Corp bought a new position in Unitil during the first quarter worth $334,000. Oppenheimer & Co. Inc. increased its position in Unitil by 21.4% during the first quarter. Oppenheimer & Co. Inc. now owns 16,453 shares of the utilities provider’s stock worth $763,000 after acquiring an additional 2,900 shares during the period. Frontier Capital Management Co. LLC increased its position in Unitil by 5.2% during the first quarter. Frontier Capital Management Co. LLC now owns 856,254 shares of the utilities provider’s stock worth $39,739,000 after acquiring an additional 42,704 shares during the period. Finally, Monarch Partners Asset Management LLC increased its position in Unitil by 1.1% during the first quarter. Monarch Partners Asset Management LLC now owns 187,686 shares of the utilities provider’s stock worth $8,711,000 after acquiring an additional 1,972 shares during the period. 64.25% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on UTL. Zacks Investment Research raised shares of Unitil from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, July 24th. Bank of America boosted their target price on shares of Unitil from $47.00 to $49.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 1st.
Shares of UTL stock opened at $50.94 on Thursday. Unitil Co. has a 1 year low of $40.92 and a 1 year high of $53.07. The firm has a market cap of $755.24 million, a P/E ratio of 24.73, a P/E/G ratio of 6.50 and a beta of 0.04. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.87.
Unitil (NYSE:UTL) last announced its earnings results on Thursday, July 26th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.24. Unitil had a net margin of 7.61% and a return on equity of 9.83%. The business had revenue of $84.50 million for the quarter, compared to analyst estimates of $84.40 million. analysts predict that Unitil Co. will post 2.22 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 29th. Investors of record on Wednesday, August 15th were given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, August 14th. Unitil’s dividend payout ratio (DPR) is currently 70.87%.
Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas in the United States. It operates through three segments: Utility Gas Operations, Utility Electric Operations, and Non-Regulated. 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, portions of southern Maine to the Lewiston-Auburn area, and in the greater Fitchburg area of north central Massachusetts.
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