Nuveen Asset Management LLC Purchases 182,733 Shares of Unitil Co. (NYSE:UTL)

Nuveen Asset Management LLC raised its position in Unitil Co. (NYSE:UTL) by 1,241.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 197,456 shares of the utilities provider’s stock after buying an additional 182,733 shares during the quarter. Nuveen Asset Management LLC’s holdings in Unitil were worth $11,825,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantamental Technologies LLC increased its holdings in Unitil by 75.0% in the 2nd quarter. Quantamental Technologies LLC now owns 700 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares during the period. Meeder Asset Management Inc. bought a new position in Unitil in the 2nd quarter valued at about $65,000. New York State Teachers Retirement System bought a new position in Unitil in the 2nd quarter valued at about $78,000. Menta Capital LLC bought a new position in Unitil in the 2nd quarter valued at about $201,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Unitil in the 2nd quarter valued at about $226,000. 67.05% of the stock is currently owned by hedge funds and other institutional investors.

UTL opened at $62.85 on Friday. The company’s 50 day moving average is $61.49 and its 200-day moving average is $58.58. Unitil Co. has a 1-year low of $46.21 and a 1-year high of $64.53. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.00. The company has a market cap of $942.44 million, a P/E ratio of 27.22, a PEG ratio of 6.24 and a beta of 0.08.

Unitil (NYSE:UTL) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. Unitil had a net margin of 9.84% and a return on equity of 9.57%. The company had revenue of $84.40 million for the quarter, compared to the consensus estimate of $85.00 million. On average, equities analysts forecast that Unitil Co. will post 2.32 EPS for the current year.

Several equities analysts have commented on the stock. ValuEngine lowered shares of Unitil from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Zacks Investment Research upgraded shares of Unitil from a “hold” rating to a “strong-buy” rating and set a $69.00 price target on the stock in a research note on Saturday, July 20th. Finally, Janney Montgomery Scott downgraded shares of Unitil from a “buy” rating to a “neutral” rating and set a $59.79 price target on the stock. in a research note on Friday, June 28th.

About Unitil

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas in the United States. It operates through three segments: Utility Gas Operations, Utility Electric Operations, and Non-Regulated. 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, portions of southern Maine to the Lewiston-Auburn area, and in the greater Fitchburg area of north central Massachusetts.

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Institutional Ownership by Quarter for Unitil (NYSE:UTL)

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