Wakefield Asset Management LLLP Reduces Position in Unitil Co. (NYSE:UTL)

Wakefield Asset Management LLLP cut its stake in Unitil Co. (NYSE:UTL) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,825 shares of the utilities provider’s stock after selling 242 shares during the period. Wakefield Asset Management LLLP owned 0.10% of Unitil worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in Unitil by 1.6% during the second 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 last quarter. Rhumbline Advisers grew its holdings in shares of Unitil by 1.9% during the second quarter. Rhumbline Advisers now owns 55,027 shares of the utilities provider’s stock valued at $2,850,000 after purchasing an additional 1,002 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Unitil by 25.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 5,064 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 1,015 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Unitil by 402.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,647 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 1,319 shares during the period. Finally, 1620 Investment Advisors Inc. grew its stake in Unitil by 10.0% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 7,145 shares of the utilities provider’s stock worth $370,000 after buying an additional 648 shares during the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.

Unitil Stock Performance

Shares of UTL opened at $58.28 on Friday. The company has a market cap of $942.27 million, a price-to-earnings ratio of 19.43 and a beta of 0.60. The firm has a fifty day moving average of $57.68 and a 200-day moving average of $53.55. Unitil Co. has a 1 year low of $41.43 and a 1 year high of $62.53. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.53 and a current ratio of 0.58.

Unitil (NYSE:UTL) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $95.70 million during the quarter, compared to analysts’ expectations of $94.00 million. Unitil had a return on equity of 9.74% and a net margin of 9.53%. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts anticipate 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 annualized dividend and a yield of 2.92%. Unitil’s dividend payout ratio is presently 56.67%.

About Unitil

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.