Raymond James Financial Inc. Invests $2.08 Million in Unitil Co. (NYSE:UTL)

Raymond James Financial Inc. purchased a new position in Unitil Co. (NYSE:UTL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 38,430 shares of the utilities provider’s stock, valued at approximately $2,082,000.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Unitil by 6.1% during the 3rd quarter. State Street Corp now owns 723,587 shares of the utilities provider’s stock worth $43,835,000 after purchasing an additional 41,511 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Unitil by 3.1% in the third quarter. Geode Capital Management LLC now owns 381,658 shares of the utilities provider’s stock valued at $23,126,000 after acquiring an additional 11,324 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Unitil by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 203,475 shares of the utilities provider’s stock worth $11,026,000 after purchasing an additional 2,130 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Unitil during the third quarter worth approximately $5,827,000. Finally, Franklin Resources Inc. increased its position in shares of Unitil by 4.5% in the third quarter. Franklin Resources Inc. now owns 87,968 shares of the utilities provider’s stock worth $5,171,000 after purchasing an additional 3,795 shares during the period. Institutional investors own 76.76% of the company’s stock.

Unitil Trading Up 2.6 %

Shares of UTL stock opened at $57.98 on Monday. The stock has a 50-day moving average of $55.36 and a 200-day moving average of $56.87. The company has a current ratio of 0.83, a quick ratio of 0.76 and a debt-to-equity ratio of 1.25. The stock has a market cap of $941.98 million, a price-to-earnings ratio of 19.79 and a beta of 0.60. Unitil Co. has a 1-year low of $47.40 and a 1-year high of $63.52.

Unitil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 13th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Thursday, February 13th. This is an increase from Unitil’s previous quarterly dividend of $0.43. Unitil’s payout ratio is presently 61.43%.

Analysts Set New Price Targets

Separately, Guggenheim reiterated a “neutral” rating and issued a $55.00 price target on shares of Unitil in a research note on Wednesday, February 12th.

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.