State of Alaska Department of Revenue Reduces Holdings in Unitil Co. (NYSE:UTL)

State of Alaska Department of Revenue reduced its position in Unitil Co. (NYSE:UTL) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,230 shares of the utilities provider’s stock after selling 263 shares during the quarter. State of Alaska Department of Revenue’s holdings in Unitil were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UTL. Allspring Global Investments Holdings LLC raised its position in shares of Unitil by 402.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,647 shares of the utilities provider’s stock valued at $85,000 after buying an additional 1,319 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Unitil in the 2nd quarter valued at about $181,000. AQR Capital Management LLC purchased a new position in Unitil in the 2nd quarter worth approximately $208,000. BOKF NA acquired a new position in shares of Unitil during the 2nd quarter worth approximately $235,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Unitil in the first quarter valued at approximately $243,000. Institutional investors and hedge funds own 76.76% of the company’s stock.

Unitil Price Performance

NYSE:UTL opened at $58.09 on Friday. The stock has a 50 day moving average price of $59.20 and a 200 day moving average price of $56.09. The stock has a market cap of $939.32 million, a PE ratio of 19.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.53 and a current ratio of 0.58. Unitil Co. has a one year low of $45.26 and a one year high of $63.52.

Unitil (NYSE:UTL) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $95.70 million for the quarter, compared to analyst estimates of $94.00 million. Unitil had a return on equity of 9.43% and a net margin of 9.46%. During the same quarter in the previous year, the firm earned $0.25 EPS. Equities research analysts expect that Unitil Co. will post 2.92 EPS for the current fiscal year.

Unitil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, November 14th. Unitil’s dividend payout ratio (DPR) is presently 58.02%.

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.