Unitil Corporation $UTL Stock Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Unitil Corporation (NYSE:UTL) by 23.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 490,041 shares of the utilities provider’s stock after buying an additional 93,101 shares during the period. Renaissance Technologies LLC’s holdings in Unitil were worth $25,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of UTL. International Assets Investment Management LLC bought a new stake in Unitil in the fourth quarter worth about $26,000. Larson Financial Group LLC acquired a new stake in Unitil during the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in Unitil during the third quarter worth approximately $29,000. Bessemer Group Inc. grew its position in Unitil by 196.1% in the first quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider’s stock worth $32,000 after buying an additional 404 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Unitil in the third quarter valued at $32,000. 76.76% of the stock is owned by institutional investors and hedge funds.

Unitil Stock Down 1.6%

NYSE:UTL opened at $55.08 on Thursday. The business’s fifty day moving average price is $52.47 and its 200 day moving average price is $52.02. The firm has a market capitalization of $990.96 million, a price-to-earnings ratio of 17.43 and a beta of 0.31. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. Unitil Corporation has a 1-year low of $44.61 and a 1-year high of $57.26.

Unitil (NYSE:UTL) last announced its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Unitil had a return on equity of 9.89% and a net margin of 9.60%.The firm had revenue of $216.90 million during the quarter, compared to analyst estimates of $179.13 million. On average, sell-side analysts forecast that Unitil Corporation will post 3.31 earnings per share for the current fiscal year.

Unitil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, August 17th. Unitil’s dividend payout ratio (DPR) is currently 60.13%.

Wall Street Analysts Forecast Growth

UTL has been the topic of a number of recent research reports. Wall Street Zen cut Unitil from a “buy” rating to a “hold” rating in a report on Monday, April 13th. Freedom Capital cut Unitil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Unitil in a research note on Monday, June 29th. Scotiabank initiated coverage on shares of Unitil in a report on Friday, April 10th. They issued a “sector perform” rating and a $57.00 target price for the company. Finally, Zacks Research raised shares of Unitil to a “hold” rating in a research report on Monday, April 13th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Unitil has a consensus rating of “Hold” and a consensus target price of $56.50.

Unitil Company Profile

Unitil Corporation (NYSE: UTL) is a publicly traded energy delivery company that provides regulated electric and natural gas distribution services. The company delivers energy to residential, commercial and industrial customers through a network of distribution systems, offering safe and reliable service across its service areas. Unitil’s operations include system maintenance, emergency response, meter reading and customer support functions, all governed by state regulatory commissions.

Headquartered in Hampton, New Hampshire, Unitil serves communities in New Hampshire, Massachusetts and Maine.