Franklin Resources Inc. Increases Stock Holdings in Unitil Co. (NYSE:UTL)

Franklin Resources Inc. increased its holdings in shares of Unitil Co. (NYSE:UTL) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 87,968 shares of the utilities provider’s stock after purchasing an additional 3,795 shares during the quarter. Franklin Resources Inc.’s holdings in Unitil were worth $5,171,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Unitil by 402.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,647 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 1,319 shares during the period. Millburn Ridgefield Corp purchased a new position in Unitil during the third quarter worth approximately $137,000. AQR Capital Management LLC acquired a new position in shares of Unitil in the 2nd quarter valued at $208,000. Centiva Capital LP purchased a new stake in shares of Unitil during the 3rd quarter valued at $271,000. Finally, BOKF NA acquired a new stake in shares of Unitil during the 2nd quarter worth $235,000. 76.76% of the stock is owned by institutional investors and hedge funds.

Unitil Price Performance

Shares of Unitil stock opened at $53.78 on Tuesday. The business’s fifty day moving average price is $58.32 and its 200 day moving average price is $57.43. Unitil Co. has a twelve month low of $45.26 and a twelve month high of $63.52. The company has a current ratio of 0.91, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $870.64 million, a P/E ratio of 18.35 and a beta of 0.62.

Unitil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, November 14th. Unitil’s payout ratio is currently 58.02%.

Unitil Profile

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.