PNC Financial Services Group Inc. Purchases 709 Shares of Unitil Co. (NYSE:UTL)

PNC Financial Services Group Inc. lifted its position in Unitil Co. (NYSE:UTL) by 14.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,703 shares of the utilities provider’s stock after purchasing an additional 709 shares during the period. PNC Financial Services Group Inc.’s holdings in Unitil were worth $309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE grew its holdings in Unitil by 8,333.3% during the fourth quarter. US Bancorp DE now owns 2,024 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 2,000 shares during the period. Millburn Ridgefield Corp acquired a new position in Unitil during the third quarter valued at approximately $137,000. Centiva Capital LP acquired a new position in Unitil during the third quarter valued at approximately $271,000. ClearAlpha Technologies LP acquired a new position in Unitil during the third quarter valued at approximately $301,000. Finally, Meritage Portfolio Management grew its holdings in Unitil by 12.3% during the fourth quarter. Meritage Portfolio Management now owns 6,515 shares of the utilities provider’s stock valued at $353,000 after purchasing an additional 715 shares during the period. Institutional investors own 76.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Guggenheim restated a “neutral” rating and set a $55.00 price objective on shares of Unitil in a report on Wednesday, February 12th.

Unitil Stock Down 2.2 %

Shares of NYSE UTL opened at $55.02 on Friday. The stock has a market cap of $893.87 million, a P/E ratio of 18.78 and a beta of 0.60. Unitil Co. has a 52-week low of $47.40 and a 52-week high of $63.52. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.76 and a current ratio of 0.83. The firm has a 50 day moving average price of $55.12 and a 200 day moving average price of $56.99.

Unitil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, February 13th. This is a boost from Unitil’s previous quarterly dividend of $0.43. Unitil’s dividend payout ratio is 61.43%.

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.