Shell Asset Management Co. Cuts Stock Position in Unitil Co. (NYSE:UTL)

Posted by on Feb 26th, 2023

Shell Asset Management Co. lessened its stake in Unitil Co. (NYSE:UTL – Get Rating) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,030 shares of the utilities provider’s stock after selling 1,580 shares during the period. Shell Asset Management Co.’s holdings in Unitil were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Unitil by 2.5% in the second quarter. State Street Corp now owns 617,022 shares of the utilities provider’s stock worth $36,232,000 after acquiring an additional 14,794 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Unitil by 0.6% in the second quarter. Renaissance Technologies LLC now owns 583,351 shares of the utilities provider’s stock worth $34,254,000 after acquiring an additional 3,600 shares in the last quarter. Aristotle Capital Boston LLC boosted its holdings in Unitil by 2.8% in the second quarter. Aristotle Capital Boston LLC now owns 488,431 shares of the utilities provider’s stock worth $28,681,000 after acquiring an additional 13,162 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Unitil by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 427,245 shares of the utilities provider’s stock worth $19,846,000 after acquiring an additional 2,642 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Unitil by 3.4% in the third quarter. Boston Trust Walden Corp now owns 352,232 shares of the utilities provider’s stock worth $16,362,000 after acquiring an additional 11,475 shares in the last quarter. Hedge funds and other institutional investors own 74.53% of the company’s stock.

Unitil Trading Up 0.5 %

Unitil stock opened at $55.40 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. Unitil Co. has a 52 week low of $44.67 and a 52 week high of $61.10. The company has a market capitalization of $890.83 million, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.82 and a beta of 0.51. The stock has a 50-day moving average price of $52.42 and a 200 day moving average price of $51.81.

Unitil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be issued a dividend of $0.405 per share. This is an increase from Unitil’s previous quarterly dividend of $0.39. The ex-dividend date is Monday, February 13th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 2.92%. Unitil’s payout ratio is 62.55%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com downgraded Unitil from a “buy” rating to a “hold” rating in a report on Thursday, January 19th. Royal Bank of Canada raised their price target on Unitil from $55.00 to $56.00 and gave the stock a “sector perform” rating in a report on Friday, February 17th.

Unitil Company Profile

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UNITIL Corp. operates as a holding company, which engages in the local distribution of electricity and natural gas. It operates through the following segments: Electric, Gas, and Others. The company was founded in 1984 and is headquartered in Hampton, NH.

See Also

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Institutional Ownership by Quarter for Unitil (NYSE:UTL)

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