Exchange Traded Concepts LLC Acquires 28,973 Shares of Unitil Corporation $UTL

Exchange Traded Concepts LLC increased its holdings in Unitil Corporation (NYSE:UTL) by 195.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,760 shares of the utilities provider’s stock after buying an additional 28,973 shares during the quarter. Exchange Traded Concepts LLC owned 0.25% of Unitil worth $2,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Addison Advisors LLC bought a new stake in shares of Unitil during the 2nd quarter valued at $34,000. CWM LLC grew its holdings in Unitil by 45.8% during the second quarter. CWM LLC now owns 882 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 277 shares during the period. GAMMA Investing LLC raised its stake in shares of Unitil by 46.4% in the second quarter. GAMMA Investing LLC now owns 1,299 shares of the utilities provider’s stock worth $68,000 after buying an additional 412 shares during the period. Quantbot Technologies LP purchased a new position in shares of Unitil during the 1st quarter valued at about $99,000. Finally, AlphaQuest LLC bought a new position in shares of Unitil during the 1st quarter valued at approximately $100,000. 76.76% of the stock is owned by hedge funds and other institutional investors.

Unitil Trading Up 0.9%

UTL stock opened at $48.69 on Friday. Unitil Corporation has a 1-year low of $44.61 and a 1-year high of $59.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.67 and a quick ratio of 0.61. The company has a market capitalization of $872.52 million, a price-to-earnings ratio of 16.85 and a beta of 0.52. The business has a 50 day simple moving average of $48.95 and a two-hundred day simple moving average of $49.17.

Unitil (NYSE:UTL) last released its quarterly earnings data on Monday, November 3rd. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.06. Unitil had a net margin of 9.32% and a return on equity of 9.04%. The firm had revenue of $101.10 million for the quarter, compared to analysts’ expectations of $100.40 million. Research analysts anticipate that Unitil Corporation will post 3.08 EPS for the current fiscal year.

Unitil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were paid a $0.45 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.80 annualized dividend and a yield of 3.7%. Unitil’s payout ratio is presently 62.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Unitil in a research note on Monday. Wall Street Zen cut shares of Unitil from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Unitil currently has an average rating of “Hold” and an average target price of $55.00.

About Unitil

Unitil Corporation (NYSE: UTL) is a publicly traded energy delivery company that provides regulated electric and natural gas distribution services. The company delivers energy to residential, commercial and industrial customers through a network of distribution systems, offering safe and reliable service across its service areas. Unitil’s operations include system maintenance, emergency response, meter reading and customer support functions, all governed by state regulatory commissions.

Headquartered in Hampton, New Hampshire, Unitil serves communities in New Hampshire, Massachusetts and Maine.