Unitil Co. (NYSE:UTL – Get Free Report) declared a quarterly dividend on Wednesday, January 31st, Zacks reports. Investors of record on Wednesday, February 14th will be given a dividend of 0.425 per share by the utilities provider on Thursday, February 29th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Tuesday, February 13th. This is a positive change from Unitil’s previous quarterly dividend of $0.41.
Unitil has raised its dividend payment by an average of 2.6% per year over the last three years and has raised its dividend every year for the last 10 years. Unitil has a payout ratio of 55.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Unitil to earn $2.91 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 58.4%.
Unitil Price Performance
NYSE:UTL opened at $48.55 on Monday. The stock has a market cap of $781.66 million, a PE ratio of 17.60, a P/E/G ratio of 2.36 and a beta of 0.57. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $50.43 and its two-hundred day simple moving average is $48.58. Unitil has a 52 week low of $41.43 and a 52 week high of $60.59.
Analyst Upgrades and Downgrades
Institutional Trading of Unitil
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Unitil by 0.5% during the 1st quarter. Rhumbline Advisers now owns 44,578 shares of the utilities provider’s stock valued at $2,224,000 after purchasing an additional 229 shares during the last quarter. First Manhattan Co. boosted its stake in Unitil by 0.4% during the first quarter. First Manhattan Co. now owns 65,689 shares of the utilities provider’s stock valued at $3,276,000 after buying an additional 250 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Unitil by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,198 shares of the utilities provider’s stock valued at $468,000 after buying an additional 268 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Unitil by 6.1% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 4,870 shares of the utilities provider’s stock worth $247,000 after acquiring an additional 281 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Unitil by 2.6% during the 1st quarter. Bank of Montreal Can now owns 11,347 shares of the utilities provider’s stock worth $579,000 after acquiring an additional 292 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors.
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.
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