Fifth Third Bancorp Boosts Stock Holdings in Unitil Corporation $UTL

Fifth Third Bancorp increased its stake in Unitil Corporation (NYSE:UTL) by 17,616.8% during the 1st quarter, Holdings Channel reports. The fund owned 21,083 shares of the utilities provider’s stock after purchasing an additional 20,964 shares during the quarter. Fifth Third Bancorp’s holdings in Unitil were worth $1,101,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in Unitil during the 4th quarter worth $26,000. Larson Financial Group LLC acquired a new stake in Unitil in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Unitil in the 3rd quarter valued at about $29,000. Quarry LP purchased a new position in shares of Unitil in the 3rd quarter valued at about $32,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Unitil during the fourth quarter worth about $48,000. 76.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Unitil from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. Scotiabank began coverage on Unitil in a report on Friday, April 10th. They set a “sector perform” rating and a $57.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Unitil in a report on Monday, June 29th. Wells Fargo & Company began coverage on Unitil in a report on Monday, May 11th. They issued an “equal weight” rating and a $56.00 price target for the company. Finally, Zacks Research upgraded shares of Unitil to a “hold” rating in a research note on Monday, April 13th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.50.

Unitil Stock Up 0.5%

Shares of NYSE:UTL opened at $55.57 on Friday. The stock has a market cap of $999.70 million, a P/E ratio of 17.59 and a beta of 0.31. The firm has a fifty day moving average price of $52.19 and a 200 day moving average price of $51.86. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.57 and a quick ratio of 0.53. Unitil Corporation has a 1-year low of $44.61 and a 1-year high of $56.18.

Unitil (NYSE:UTL) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. Unitil had a net margin of 9.60% and a return on equity of 9.89%. The company had revenue of $216.90 million for the quarter, compared to the consensus estimate of $179.13 million. Sell-side analysts predict that Unitil Corporation will post 3.31 EPS for the current year.

Unitil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.90 annualized dividend and a yield of 3.4%. Unitil’s dividend payout ratio is currently 60.13%.

Unitil Company Profile

Unitil Corporation (NYSE: UTL) is a publicly traded energy delivery company that provides regulated electric and natural gas distribution services. The company delivers energy to residential, commercial and industrial customers through a network of distribution systems, offering safe and reliable service across its service areas. Unitil’s operations include system maintenance, emergency response, meter reading and customer support functions, all governed by state regulatory commissions.

Headquartered in Hampton, New Hampshire, Unitil serves communities in New Hampshire, Massachusetts and Maine.