Legal & General Group Plc Reduces Position in UNITIL Corporation (UTL)
Legal & General Group Plc cut its position in shares of UNITIL Corporation (NYSE:UTL) by 1.3% during the first quarter, Holdings Channel reports. The fund owned 3,387 shares of the utilities provider’s stock after selling 45 shares during the period. Legal & General Group Plc’s holdings in UNITIL Corporation were worth $153,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC raised its stake in UNITIL Corporation by 11.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,511 shares of the utilities provider’s stock worth $203,000 after buying an additional 464 shares in the last quarter. Schroder Investment Management Group raised its stake in UNITIL Corporation by 29.4% in the first quarter. Schroder Investment Management Group now owns 4,908 shares of the utilities provider’s stock worth $221,000 after buying an additional 1,114 shares in the last quarter. Bank of Montreal Can raised its stake in UNITIL Corporation by 1.9% in the first quarter. Bank of Montreal Can now owns 6,770 shares of the utilities provider’s stock worth $305,000 after buying an additional 124 shares in the last quarter. TFS Capital LLC bought a new stake in UNITIL Corporation during the first quarter worth $348,000. Finally, American International Group Inc. raised its stake in UNITIL Corporation by 6.9% in the first quarter. American International Group Inc. now owns 8,540 shares of the utilities provider’s stock worth $385,000 after buying an additional 551 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.
UNITIL Corporation (NYSE:UTL) traded down 0.7373% during trading on Tuesday, hitting $49.5023. The company had a trading volume of 2,226 shares. The stock has a market capitalization of $698.73 million, a price-to-earnings ratio of 23.7877 and a beta of 0.21. The firm’s 50 day moving average is $49.71 and its 200-day moving average is $47.10. UNITIL Corporation has a 52-week low of $37.31 and a 52-week high of $52.20.
UNITIL Corporation (NYSE:UTL) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. UNITIL Corporation had a net margin of 7.52% and a return on equity of 9.88%. The firm had revenue of $80.80 million for the quarter, compared to analyst estimates of $78.10 million. During the same period last year, the business earned $0.18 EPS. On average, equities analysts forecast that UNITIL Corporation will post $2.00 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.44 annualized dividend and a yield of 2.89%. UNITIL Corporation’s dividend payout ratio is currently 68.90%.
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A number of research firms have weighed in on UTL. Zacks Investment Research lowered UNITIL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. BidaskClub upgraded UNITIL Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 10th.
UNITIL Corporation Company Profile
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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