Nuveen Asset Management LLC lifted its stake in shares of Unitil Co. (NYSE:UTL) by 1,241.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,456 shares of the utilities provider’s stock after acquiring an additional 182,733 shares during the period. Nuveen Asset Management LLC owned approximately 1.32% of Unitil worth $11,825,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of UTL. Vanguard Group Inc. boosted its holdings in Unitil by 9.8% during the second quarter. Vanguard Group Inc. now owns 876,534 shares of the utilities provider’s stock worth $52,495,000 after purchasing an additional 78,153 shares during the last quarter. Putnam Investments LLC acquired a new position in Unitil during the second quarter worth $4,031,000. Charles Schwab Investment Management Inc. boosted its holdings in Unitil by 36.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 130,408 shares of the utilities provider’s stock worth $7,811,000 after purchasing an additional 34,859 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Unitil by 2.9% during the second quarter. Renaissance Technologies LLC now owns 889,800 shares of the utilities provider’s stock worth $53,290,000 after purchasing an additional 25,100 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in Unitil by 12.4% during the second quarter. Tributary Capital Management LLC now owns 222,136 shares of the utilities provider’s stock worth $13,304,000 after purchasing an additional 24,446 shares during the last quarter. 67.05% of the stock is owned by institutional investors.
A number of analysts have commented on UTL shares. Janney Montgomery Scott cut shares of Unitil from a “buy” rating to a “neutral” rating and set a $59.79 price target for the company. in a research note on Friday, June 28th. Zacks Investment Research upgraded shares of Unitil from a “hold” rating to a “strong-buy” rating and set a $69.00 price target for the company in a research note on Saturday, July 20th. Finally, ValuEngine cut shares of Unitil from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.
Shares of UTL stock opened at $62.85 on Friday. The stock has a market cap of $942.44 million, a P/E ratio of 27.22, a P/E/G ratio of 6.24 and a beta of 0.08. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.69 and a quick ratio of 0.64. The company has a fifty day moving average price of $61.49 and a two-hundred day moving average price of $58.58. Unitil Co. has a one year low of $46.21 and a one year high of $64.53.
Unitil (NYSE:UTL) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The firm had revenue of $84.40 million during the quarter, compared to analysts’ expectations of $85.00 million. Unitil had a net margin of 9.84% and a return on equity of 9.57%. As a group, equities research analysts anticipate that Unitil Co. will post 2.32 EPS for the current fiscal year.
Unitil Company Profile
Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas in the United States. It operates through three segments: Utility Gas Operations, Utility Electric Operations, and Non-Regulated. 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, portions of southern Maine to the Lewiston-Auburn area, and in the greater Fitchburg area of north central Massachusetts.
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