Corebridge Financial Inc. Sells 664 Shares of Unitil Co. (NYSE:UTL)

Corebridge Financial Inc. lowered its stake in shares of Unitil Co. (NYSE:UTL) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,508 shares of the utilities provider’s stock after selling 664 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Unitil worth $461,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UTL. US Bancorp DE increased its stake in shares of Unitil by 8,333.3% during the 4th quarter. US Bancorp DE now owns 2,024 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 2,000 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Unitil in the third quarter valued at $271,000. PNC Financial Services Group Inc. lifted its position in shares of Unitil by 14.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,703 shares of the utilities provider’s stock valued at $309,000 after buying an additional 709 shares during the last quarter. Meritage Portfolio Management grew its stake in shares of Unitil by 12.3% during the 4th quarter. Meritage Portfolio Management now owns 6,515 shares of the utilities provider’s stock worth $353,000 after acquiring an additional 715 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Unitil in the 4th quarter worth about $385,000. 76.76% of the stock is currently owned by hedge funds and other institutional investors.

Unitil Trading Up 0.8 %

Shares of UTL stock opened at $55.62 on Wednesday. The stock has a market capitalization of $903.60 million, a price-to-earnings ratio of 18.98 and a beta of 0.58. The company’s fifty day simple moving average is $55.98 and its two-hundred day simple moving average is $56.66. Unitil Co. has a 1 year low of $47.40 and a 1 year high of $63.52. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.83 and a quick ratio of 0.76.

Unitil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 13th were issued a dividend of $0.45 per share. This is a boost from Unitil’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, February 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.24%. Unitil’s dividend payout ratio is 61.43%.

Analyst Ratings Changes

Separately, Guggenheim reiterated a “neutral” rating and set a $55.00 target price on shares of Unitil in a research report on Wednesday, February 12th.

Unitil 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.