Bank of New York Mellon Corp boosted its stake in Unitil Corp. (NYSE:UTL) by 6.4% during the second quarter, Holdings Channel reports. The firm owned 146,942 shares of the company’s stock after buying an additional 8,897 shares during the period. Bank of New York Mellon Corp owned about 1.05% of Unitil Corp. worth $6,271,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in UTL. Acadian Asset Management LLC raised its stake in shares of Unitil Corp. by 4.2% in the second quarter. Acadian Asset Management LLC now owns 432,913 shares of the company’s stock valued at $18,474,000 after buying an additional 17,298 shares during the period. Renaissance Technologies LLC raised its stake in shares of Unitil Corp. by 16.8% in the first quarter. Renaissance Technologies LLC now owns 384,600 shares of the company’s stock valued at $16,342,000 after buying an additional 55,400 shares during the period. State Street Corp raised its stake in shares of Unitil Corp. by 3.8% in the first quarter. State Street Corp now owns 294,856 shares of the company’s stock valued at $12,524,000 after buying an additional 10,727 shares during the period. Geode Capital Management LLC raised its stake in shares of Unitil Corp. by 50.6% in the first quarter. Geode Capital Management LLC now owns 153,611 shares of the company’s stock valued at $6,526,000 after buying an additional 51,637 shares during the period. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Unitil Corp. by 28.2% in the first quarter. TIAA CREF Investment Management LLC now owns 65,030 shares of the company’s stock valued at $2,763,000 after buying an additional 14,317 shares during the period. 58.09% of the stock is owned by institutional investors.

Unitil Corp. (NYSE:UTL) traded up 2.08% on Wednesday, reaching $39.66. The company’s stock had a trading volume of 24,806 shares. The stock has a 50-day moving average of $40.17 and a 200-day moving average of $41.07. Unitil Corp. has a one year low of $33.75 and a one year high of $45.16. The stock has a market cap of $557.30 million, a P/E ratio of 22.71 and a beta of 0.19.

Unitil Corp. (NYSE:UTL) last released its earnings results on Thursday, July 21st. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.05. Unitil Corp. had a return on equity of 8.58% and a net margin of 6.47%. The business had revenue of $73 million for the quarter, compared to the consensus estimate of $79.90 million. During the same period in the previous year, the company posted $0.12 earnings per share. On average, analysts predict that Unitil Corp. will post $1.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 3.58%. The ex-dividend date was Wednesday, August 10th. Unitil Corp.’s dividend payout ratio (DPR) is 81.14%.

Separately, Zacks Investment Research raised Unitil Corp. from a “sell” rating to a “hold” rating in a report on Saturday, September 3rd.

About Unitil Corp.

Unitil Corporation (Unitil) is a public utility holding company. The Company is engaged in the local distribution of electricity and natural gas to customers throughout its service territories in the states of New Hampshire, Massachusetts and Maine. It operates through three segments: utility gas operations, utility electric operations and non-regulated.

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