Meeder Asset Management Inc. bought a new stake in shares of Unitil Co. (NYSE:UTL) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,096 shares of the utilities provider’s stock, valued at approximately $65,000.
Other large investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new stake in shares of Unitil in the 2nd quarter worth about $78,000. FMR LLC grew its holdings in Unitil by 378.2% during the 4th quarter. FMR LLC now owns 2,606 shares of the utilities provider’s stock worth $132,000 after acquiring an additional 2,061 shares during the last quarter. Legal & General Group Plc lifted its position in Unitil by 9.9% during the 4th quarter. Legal & General Group Plc now owns 2,596 shares of the utilities provider’s stock valued at $132,000 after purchasing an additional 234 shares during the period. BNP Paribas Arbitrage SA lifted its position in Unitil by 196.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,037 shares of the utilities provider’s stock valued at $165,000 after purchasing an additional 2,013 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Unitil in the 1st quarter valued at approximately $169,000. Hedge funds and other institutional investors own 66.53% of the company’s stock.
NYSE UTL opened at $59.74 on Wednesday. The business has a 50 day simple moving average of $59.13 and a 200 day simple moving average of $56.89. Unitil Co. has a 52-week low of $46.21 and a 52-week high of $61.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.64 and a current ratio of 0.69. The stock has a market cap of $891.32 million, a price-to-earnings ratio of 26.79, a PEG ratio of 5.79 and a beta of 0.11.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.48 annualized dividend and a dividend yield of 2.48%. Unitil’s dividend payout ratio is currently 66.37%.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Unitil from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research report on Saturday, July 20th. Janney Montgomery Scott downgraded shares of Unitil from a “buy” rating to a “neutral” rating and set a $59.79 price target on the stock. in a research report on Friday, June 28th.
Unitil Company Profile
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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