UNITIL Corporation (UTL) Position Boosted by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC boosted its holdings in shares of UNITIL Corporation (NYSE:UTL) by 37.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,784 shares of the utilities provider’s stock after acquiring an additional 2,680 shares during the quarter. Wedge Capital Management L L P NC owned 0.07% of UNITIL Corporation worth $484,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Foundry Partners LLC raised its position in UNITIL Corporation by 162.9% during the 3rd quarter. Foundry Partners LLC now owns 104,155 shares of the utilities provider’s stock valued at $5,152,000 after purchasing an additional 64,532 shares in the last quarter. Renaissance Technologies LLC raised its position in UNITIL Corporation by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 530,500 shares of the utilities provider’s stock valued at $25,628,000 after purchasing an additional 37,500 shares in the last quarter. Spark Investment Management LLC bought a new stake in UNITIL Corporation during the 2nd quarter valued at $1,454,000. Dimensional Fund Advisors LP raised its position in UNITIL Corporation by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 510,860 shares of the utilities provider’s stock valued at $23,004,000 after purchasing an additional 28,709 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in UNITIL Corporation by 220.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 29,905 shares of the utilities provider’s stock valued at $1,445,000 after purchasing an additional 20,581 shares in the last quarter. Institutional investors own 59.40% of the company’s stock.
A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $47.00 target price on shares of UNITIL Corporation in a research report on Tuesday, August 15th. BidaskClub raised UNITIL Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research lowered UNITIL Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st.
UNITIL Corporation (NYSE:UTL) opened at $50.49 on Friday. The company has a market capitalization of $722.56, a price-to-earnings ratio of 25.58 and a beta of 0.21. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.56 and a quick ratio of 0.53. UNITIL Corporation has a 1 year low of $40.40 and a 1 year high of $52.84.
UNITIL Corporation (NYSE:UTL) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The firm had revenue of $475.20 million during the quarter, compared to analyst estimates of $82.80 million. UNITIL Corporation had a return on equity of 9.39% and a net margin of 7.09%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. research analysts anticipate that UNITIL Corporation will post 2.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Tuesday, November 14th. UNITIL Corporation’s payout ratio is 72.00%.
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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