New York State Teachers Retirement System increased its stake in Unitil Co. (NYSE:UTL – Get Rating) by 3.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,441 shares of the utilities provider’s stock after purchasing an additional 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Unitil were worth $321,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System boosted its holdings in Unitil by 4.7% in the fourth quarter. Maryland State Retirement & Pension System now owns 6,284 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 284 shares during the last quarter. Raymond James & Associates boosted its holdings in Unitil by 2.7% in the fourth quarter. Raymond James & Associates now owns 13,502 shares of the utilities provider’s stock worth $621,000 after purchasing an additional 359 shares during the last quarter. Rhumbline Advisers boosted its holdings in Unitil by 1.2% in the fourth quarter. Rhumbline Advisers now owns 44,349 shares of the utilities provider’s stock worth $2,040,000 after purchasing an additional 510 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Unitil by 3.4% in the first quarter. Exchange Traded Concepts LLC now owns 26,103 shares of the utilities provider’s stock worth $1,302,000 after acquiring an additional 860 shares during the period. Finally, Panagora Asset Management Inc. raised its position in Unitil by 1.1% in the fourth quarter. Panagora Asset Management Inc. now owns 84,610 shares of the utilities provider’s stock worth $3,891,000 after acquiring an additional 932 shares during the period. Hedge funds and other institutional investors own 72.66% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Unitil from a “buy” rating to a “hold” rating in a research report on Tuesday, May 31st.
Unitil Stock Up 1.0 %
Unitil (NYSE:UTL – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. Unitil had a net margin of 7.34% and a return on equity of 8.83%. The business had revenue of $192.60 million for the quarter, compared to the consensus estimate of $160.00 million. During the same period last year, the firm earned $1.26 earnings per share. As a group, equities analysts forecast that Unitil Co. will post 2.55 EPS for the current year.
Unitil Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 12th. This represents a $1.56 annualized dividend and a dividend yield of 2.66%. Unitil’s payout ratio is 63.41%.
Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through three segments: Utility Electric Operations, Utility Gas Operations, and Non-Regulated. 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 the greater Fitchburg area of north central Massachusetts.
- Get a free copy of the StockNews.com research report on Unitil (UTL)
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