Unitil Co. (NYSE:UTL) Short Interest Down 31.3% in February

Unitil Co. (NYSE:UTL) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 145,100 shares, a drop of 31.3% from the February 13th total of 211,300 shares. Based on an average daily trading volume, of 62,200 shares, the short-interest ratio is currently 2.3 days. Currently, 0.9% of the shares of the stock are sold short.

Unitil Stock Performance

NYSE:UTL opened at $56.41 on Tuesday. The company’s 50-day moving average price is $54.84 and its 200-day moving average price is $57.06. The company has a current ratio of 0.83, a quick ratio of 0.76 and a debt-to-equity ratio of 1.25. The company has a market cap of $916.40 million, a P/E ratio of 19.25 and a beta of 0.60. Unitil has a twelve month low of $47.40 and a twelve month high of $63.52.

Unitil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 13th. This is an increase from Unitil’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.19%. Unitil’s payout ratio is 61.43%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Unitil

Institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in Unitil by 798.2% during the fourth quarter. Sterling Capital Management LLC now owns 512 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 455 shares during the period. US Bancorp DE raised its stake in Unitil by 8,333.3% during the fourth 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 period. Millburn Ridgefield Corp purchased a new position in Unitil during the third quarter worth about $137,000. Aquatic Capital Management LLC purchased a new position in Unitil during the fourth quarter worth about $166,000. Finally, Lido Advisors LLC purchased a new position in Unitil during the fourth quarter worth about $221,000. 76.76% of the stock is owned by hedge funds and other institutional investors.

Unitil Company 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.