Bank of America Corp DE Decreases Stake in UNITIL Corporation (NYSE:UTL)
Bank of America Corp DE decreased its stake in UNITIL Corporation (NYSE:UTL) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,322 shares of the utilities provider’s stock after selling 211 shares during the period. Bank of America Corp DE’s holdings in UNITIL Corporation were worth $2,266,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Sei Investments Co. raised its stake in UNITIL Corporation by 113.3% in the first quarter. Sei Investments Co. now owns 21,281 shares of the utilities provider’s stock valued at $958,000 after buying an additional 11,304 shares during the period. Swiss National Bank raised its stake in shares of UNITIL Corporation by 5.3% in the first quarter. Swiss National Bank now owns 22,000 shares of the utilities provider’s stock valued at $991,000 after buying an additional 1,100 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of UNITIL Corporation by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 28,378 shares of the utilities provider’s stock valued at $1,287,000 after buying an additional 1,858 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of UNITIL Corporation by 19.4% in the first quarter. Victory Capital Management Inc. now owns 16,690 shares of the utilities provider’s stock valued at $752,000 after buying an additional 2,706 shares during the last quarter. Finally, TFS Capital LLC purchased a new stake in shares of UNITIL Corporation during the first quarter valued at approximately $348,000. Hedge funds and other institutional investors own 58.90% of the company’s stock.
UNITIL Corporation (NYSE UTL) traded down 1.10% on Friday, hitting $49.40. 11,547 shares of the company were exchanged. The stock has a 50 day moving average price of $49.66 and a 200 day moving average price of $47.04. UNITIL Corporation has a one year low of $37.31 and a one year high of $52.20. The firm has a market cap of $697.28 million, a price-to-earnings ratio of 23.74 and a beta of 0.21.
UNITIL Corporation (NYSE:UTL) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $80.80 million for the quarter, compared to analyst estimates of $78.10 million. UNITIL Corporation had a net margin of 7.52% and a return on equity of 9.88%. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities research analysts forecast that UNITIL Corporation will post $2.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th will be given a $0.36 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.44 dividend on an annualized basis and a yield of 2.86%. UNITIL Corporation’s dividend payout ratio (DPR) is presently 68.90%.
Several brokerages have commented on UTL. BidaskClub upgraded shares of UNITIL Corporation from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research lowered shares of UNITIL Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st.
About UNITIL Corporation
Unitil Corporation is a public utility holding company. The Company’s principal business is the local distribution of electricity in the southeastern seacoast and state capital regions of New Hampshire and the greater Fitchburg area of north central Massachusetts and the local distribution of 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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