Amalgamated Bank Cuts Position in Unitil Co. (NYSE:UTL)

Amalgamated Bank lessened its holdings in Unitil Co. (NYSE:UTL) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,816 shares of the utilities provider’s stock after selling 389 shares during the period. Amalgamated Bank’s holdings in Unitil were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Anchor Capital Advisors LLC raised its holdings in shares of Unitil by 1.2% in the 1st quarter. Anchor Capital Advisors LLC now owns 25,615 shares of the utilities provider’s stock worth $1,341,000 after purchasing an additional 301 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Unitil by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 20,419 shares of the utilities provider’s stock worth $1,058,000 after purchasing an additional 319 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Unitil by 1.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 19,555 shares of the utilities provider’s stock worth $954,000 after purchasing an additional 365 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Unitil by 5.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 12,088 shares of the utilities provider’s stock worth $633,000 after purchasing an additional 581 shares during the period. Finally, 1620 Investment Advisors Inc. raised its holdings in shares of Unitil by 10.0% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 7,145 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 648 shares during the period. Institutional investors own 76.76% of the company’s stock.

Unitil Trading Up 1.5 %

NYSE:UTL opened at $60.58 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $979.58 million, a PE ratio of 20.19 and a beta of 0.60. The firm’s 50 day moving average is $59.61 and its 200 day moving average is $54.59. Unitil Co. has a 12 month low of $41.43 and a 12 month high of $63.52.

Unitil (NYSE:UTL) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Unitil had a net margin of 9.53% and a return on equity of 9.74%. The business had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $94.00 million. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts expect that Unitil Co. will post 2.92 earnings per share for the current year.

Unitil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.425 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.70 dividend on an annualized basis and a yield of 2.81%. Unitil’s payout ratio is 56.67%.

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.