Bank of New York Mellon Corp Sells 1,568 Shares of UNITIL Corporation (UTL)
Bank of New York Mellon Corp lowered its holdings in shares of UNITIL Corporation (NYSE:UTL) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,467 shares of the utilities provider’s stock after selling 1,568 shares during the period. Bank of New York Mellon Corp owned 1.21% of UNITIL worth $8,482,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in UNITIL by 293.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,349 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 1,752 shares during the period. Thrivent Financial For Lutherans acquired a new stake in UNITIL during the 2nd quarter worth $254,000. Schroder Investment Management Group boosted its stake in UNITIL by 23.2% during the 2nd quarter. Schroder Investment Management Group now owns 6,048 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 1,140 shares during the period. Strs Ohio boosted its stake in UNITIL by 6.8% during the 2nd quarter. Strs Ohio now owns 6,300 shares of the utilities provider’s stock worth $304,000 after purchasing an additional 400 shares during the period. Finally, Voya Investment Management LLC boosted its stake in UNITIL by 13.0% during the 2nd quarter. Voya Investment Management LLC now owns 7,698 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 887 shares during the period. Hedge funds and other institutional investors own 58.18% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of UNITIL from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Bank of America assumed coverage on shares of UNITIL in a research note on Monday, December 18th. They set a “neutral” rating and a $49.00 price target for the company. Royal Bank of Canada reiterated a “hold” rating and set a $47.00 price target on shares of UNITIL in a research note on Wednesday, October 18th. Finally, Janney Montgomery Scott upgraded shares of UNITIL from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $52.00 to $50.00 in a research note on Tuesday. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. UNITIL currently has an average rating of “Hold” and an average target price of $51.00.
Shares of UNITIL Corporation (NYSE UTL) opened at $45.09 on Wednesday. UNITIL Corporation has a 52 week low of $43.03 and a 52 week high of $52.84. The company has a market cap of $670.42, a price-to-earnings ratio of 22.55, a PEG ratio of 5.34 and a beta of 0.20. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 1.04.
UNITIL (NYSE:UTL) last released its earnings results on Thursday, October 26th. The utilities provider reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.04. UNITIL had a net margin of 7.09% and a return on equity of 9.39%. The company had revenue of $475.20 million during the quarter, compared to analysts’ expectations of $82.80 million. During the same quarter last year, the business earned $0.25 EPS. The business’s revenue was down 3.4% on a year-over-year basis. equities research analysts expect that UNITIL Corporation will post 2.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Tuesday, November 14th. UNITIL’s dividend payout ratio (DPR) is presently 72.00%.
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UNITIL Company Profile
Unitil Corporation is a public utility holding company. The Company’s principal business is the local distribution of electricity in the southeastern seacoast and state capital regions of New Hampshire and the greater Fitchburg area of north central Massachusetts and the local distribution of 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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