Putnam Investments LLC lessened its holdings in Unitil Co. (NYSE:UTL – Free Report) by 8.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,376 shares of the utilities provider’s stock after selling 8,287 shares during the quarter. Putnam Investments LLC owned approximately 0.56% of Unitil worth $5,098,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of UTL. Jones Financial Companies Lllp bought a new position in shares of Unitil in the first quarter worth about $25,000. FMR LLC grew its stake in Unitil by 57.8% in the first quarter. FMR LLC now owns 1,054 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 386 shares in the last quarter. Focused Wealth Management Inc purchased a new position in Unitil during the 1st quarter worth $69,000. Captrust Financial Advisors raised its position in Unitil by 75.9% during the 1st quarter. Captrust Financial Advisors now owns 1,384 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 597 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Unitil by 239.5% in the 1st quarter. Quantbot Technologies LP now owns 2,302 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,624 shares during the period. Hedge funds and other institutional investors own 75.06% of the company’s stock.
Unitil Trading Down 1.2 %
Shares of NYSE:UTL opened at $46.95 on Friday. The company has a market capitalization of $755.57 million, a PE ratio of 17.39, a P/E/G ratio of 2.43 and a beta of 0.52. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 1.00. Unitil Co. has a 12-month low of $44.67 and a 12-month high of $60.59. The business’s fifty day simple moving average is $49.57 and its 200-day simple moving average is $53.10.
Unitil Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Monday, August 14th were given a dividend of $0.405 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.62 dividend on an annualized basis and a yield of 3.45%. Unitil’s payout ratio is 60.00%.
Analyst Ratings Changes
Several analysts recently weighed in on UTL shares. StockNews.com assumed coverage on Unitil in a report on Thursday, August 17th. They issued a “hold” rating for the company. Royal Bank of Canada reduced their price target on shares of Unitil from $56.00 to $51.00 and set a “sector perform” rating for the company in a report on Wednesday, September 6th.
Read Our Latest Research Report on Unitil
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.
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