Magnetar Financial LLC Invests $204,000 in UNITIL Corporation (UTL)
Magnetar Financial LLC acquired a new position in UNITIL Corporation (NYSE:UTL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,124 shares of the utilities provider’s stock, valued at approximately $204,000.
Other large investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in UNITIL by 293.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,349 shares of the utilities provider’s stock worth $113,000 after buying an additional 1,752 shares in the last quarter. SG Americas Securities LLC purchased a new stake in UNITIL in the 3rd quarter worth $132,000. Thrivent Financial For Lutherans purchased a new stake in UNITIL in the 2nd quarter worth $254,000. Schroder Investment Management Group increased its stake in UNITIL by 23.2% in the 2nd quarter. Schroder Investment Management Group now owns 6,048 shares of the utilities provider’s stock worth $292,000 after buying an additional 1,140 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of UNITIL by 6.8% during the 2nd quarter. Strs Ohio now owns 6,300 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 60.66% of the company’s stock.
Shares of UNITIL Corporation (NYSE UTL) traded up $0.45 during trading hours on Monday, hitting $48.00. 205,900 shares of the company were exchanged, compared to its average volume of 42,006. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 1.04. UNITIL Corporation has a 1 year low of $43.03 and a 1 year high of $52.84. The company has a market cap of $678.00, a P/E ratio of 24.00 and a beta of 0.20.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Tuesday, November 14th. UNITIL’s payout ratio is 72.00%.
UTL has been the subject of several research reports. Zacks Investment Research raised shares of UNITIL from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Royal Bank of Canada reissued a “hold” rating and set a $47.00 price objective on shares of UNITIL in a report on Monday, September 18th. Finally, Bank of America initiated coverage on shares of UNITIL in a report on Monday. They set a “neutral” rating and a $49.00 price objective for the company.
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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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