Unitil Co. (NYSE:UTL – Get Free Report) announced a quarterly dividend on Wednesday, January 31st, Zacks reports. Shareholders of record on Wednesday, February 14th will be paid a dividend of 0.425 per share by the utilities provider on Thursday, February 29th. This represents a $1.70 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, February 13th. This is a positive change from Unitil’s previous quarterly dividend of $0.41.
Unitil has raised its dividend by an average of 2.6% annually over the last three years and has increased its dividend every year for the last 10 years. Unitil has a payout ratio of 55.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Unitil to earn $2.91 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 58.4%.
Unitil Stock Down 0.0 %
Shares of UTL opened at $48.55 on Monday. The stock has a market capitalization of $781.66 million, a price-to-earnings ratio of 17.60, a PEG ratio of 2.36 and a beta of 0.57. Unitil has a 52 week low of $41.43 and a 52 week high of $60.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.59 and a current ratio of 0.64. The stock has a fifty day moving average of $50.43 and a 200-day moving average of $48.58.
Analyst Ratings Changes
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Unitil by 0.3% during the second quarter. BlackRock Inc. now owns 2,980,019 shares of the utilities provider’s stock worth $151,117,000 after acquiring an additional 9,897 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Unitil by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,224,631 shares of the utilities provider’s stock worth $56,885,000 after purchasing an additional 50,451 shares during the period. State Street Corp boosted its stake in shares of Unitil by 1.8% in the 3rd quarter. State Street Corp now owns 628,244 shares of the utilities provider’s stock valued at $29,182,000 after purchasing an additional 11,222 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Unitil by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 515,447 shares of the utilities provider’s stock worth $22,015,000 after buying an additional 10,788 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Unitil by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 419,309 shares of the utilities provider’s stock worth $20,916,000 after buying an additional 1,900 shares during the last quarter. 75.06% of the stock is owned by institutional investors and hedge funds.
Unitil Company Profile
Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through two segments, Utility Electric Operations, Utility Gas Operations. 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 and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area, as well as electricity and natural gas in the greater Fitchburg area of north central Massachusetts.
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