Prudential Financial Inc. Decreases Position in UNITIL Corporation (UTL)
Prudential Financial Inc. decreased its stake in shares of UNITIL Corporation (NYSE:UTL) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,597 shares of the utilities provider’s stock after selling 90 shares during the period. Prudential Financial Inc.’s holdings in UNITIL Corporation were worth $297,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in UTL. Bank of Montreal Can raised its stake in shares of UNITIL Corporation by 1.9% in the first quarter. Bank of Montreal Can now owns 6,770 shares of the utilities provider’s stock valued at $305,000 after buying an additional 124 shares during the last quarter. TFS Capital LLC purchased a new position in shares of UNITIL Corporation during the first quarter valued at about $348,000. Catalyst Capital Advisors LLC purchased a new position in shares of UNITIL Corporation during the first quarter valued at about $437,000. Sei Investments Co. raised its position in shares of 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 last quarter. Finally, Swiss National Bank raised its position in UNITIL Corporation by 5.3% in the first quarter. Swiss National Bank now owns 22,000 shares of the utilities provider’s stock worth $991,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 59.00% of the company’s stock.
UNITIL Corporation (NYSE:UTL) traded up 1.21% during mid-day trading on Friday, reaching $49.22. The company’s stock had a trading volume of 46,733 shares. UNITIL Corporation has a 12-month low of $37.31 and a 12-month high of $52.20. The firm has a market cap of $694.74 million, a PE ratio of 23.65 and a beta of 0.21. The company has a 50-day moving average price of $49.81 and a 200-day moving average price of $47.18.
UNITIL Corporation (NYSE:UTL) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $80.80 million during the quarter, compared to analysts’ expectations of $78.10 million. UNITIL Corporation had a net margin of 7.52% and a return on equity of 9.88%. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts expect that UNITIL Corporation will post $2.00 earnings per share for the current year.
The firm also recently disclosed 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 2.93%. UNITIL Corporation’s dividend payout ratio is presently 68.90%.
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A number of research firms have recently weighed in on UTL. Royal Bank Of Canada restated a “hold” rating and issued a $47.00 target price on shares of UNITIL Corporation in a report on Tuesday. BidaskClub raised UNITIL Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded UNITIL Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st.
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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