Unitil Corporation (NYSE:UTL – Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.4750 per share by the utilities provider on Monday, November 30th. This represents a $1.90 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, November 13th.
Unitil has a payout ratio of 57.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Unitil to earn $3.51 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 54.1%.
Unitil Stock Performance
Shares of UTL stock opened at $55.01 on Friday. Unitil has a 12-month low of $46.91 and a 12-month high of $57.26. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 17.35 and a beta of 0.26. The business has a 50 day simple moving average of $52.92 and a 200 day simple moving average of $52.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.45.
Unitil (NYSE:UTL – Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $117.00 million for the quarter, compared to analysts’ expectations of $113.19 million. Unitil had a return on equity of 9.53% and a net margin of 9.49%. On average, equities research analysts anticipate that Unitil will post 3.31 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC raised its holdings in shares of Unitil by 35.4% in the 3rd quarter. ProShare Advisors LLC now owns 181,808 shares of the utilities provider’s stock worth $9,229,000 after purchasing an additional 47,499 shares in the last quarter. Vise Technologies Inc. lifted its stake in Unitil by 37.8% during the third quarter. Vise Technologies Inc. now owns 6,991 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 1,916 shares during the last quarter. Summit Global Investments bought a new stake in Unitil during the third quarter worth approximately $257,000. Sterling Capital Management LLC boosted its holdings in Unitil by 12.4% during the third quarter. Sterling Capital Management LLC now owns 5,982 shares of the utilities provider’s stock worth $304,000 after buying an additional 658 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in Unitil by 360.0% during the third quarter. Inspire Investing LLC now owns 59,289 shares of the utilities provider’s stock worth $3,010,000 after buying an additional 46,400 shares in the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.
Unitil Company Profile
Unitil Corporation is a regulated public utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers in New Hampshire and Massachusetts. Its operations focus primarily on the distribution of energy through local utility networks rather than the production of electricity or natural gas.
Through its operating subsidiaries, Unitil provides electric distribution service in portions of New Hampshire and Massachusetts and natural gas distribution service in parts of southern New Hampshire and central Massachusetts.
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