1620 Investment Advisors Inc. Reduces Stock Holdings in Unitil Co. (NYSE:UTL)

1620 Investment Advisors Inc. reduced its holdings in Unitil Co. (NYSE:UTL) by 7.3% during the 4th quarter, Holdings Channel reports. The fund owned 5,703 shares of the utilities provider’s stock after selling 452 shares during the period. 1620 Investment Advisors Inc.’s holdings in Unitil were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Unitil by 8,333.3% in the 4th quarter. US Bancorp DE now owns 2,024 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 2,000 shares during the period. Millburn Ridgefield Corp acquired a new position in shares of Unitil in the 3rd quarter valued at $137,000. Centiva Capital LP acquired a new position in shares of Unitil in the 3rd quarter valued at $271,000. ClearAlpha Technologies LP acquired a new position in shares of Unitil in the 3rd quarter valued at $301,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Unitil by 14.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,703 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 709 shares during the period. 76.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Guggenheim restated a “neutral” rating and set a $55.00 price objective on shares of Unitil in a research report on Wednesday, February 12th.

Unitil Stock Performance

NYSE:UTL opened at $56.33 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.76 and a current ratio of 0.83. The company has a fifty day moving average of $55.07 and a two-hundred day moving average of $57.03. The stock has a market capitalization of $915.12 million, a PE ratio of 19.22 and a beta of 0.60. Unitil Co. has a fifty-two week low of $47.40 and a fifty-two week high of $63.52.

Unitil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 13th. This is a boost from Unitil’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.20%. Unitil’s dividend payout ratio is currently 61.43%.

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.