Aigen Investment Management LP Cuts Stake in Unitil Co. (NYSE:UTL)

Aigen Investment Management LP lowered its holdings in shares of Unitil Co. (NYSE:UTL) by 21.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,518 shares of the utilities provider’s stock after selling 2,918 shares during the quarter. Aigen Investment Management LP owned approximately 0.07% of Unitil worth $481,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of Unitil by 7.3% during the first quarter. BlackRock Inc. now owns 1,343,744 shares of the utilities provider’s stock worth $61,395,000 after purchasing an additional 91,420 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in Unitil during the 4th quarter valued at approximately $41,989,000. Aristotle Capital Boston LLC grew its holdings in Unitil by 4.5% during the 4th quarter. Aristotle Capital Boston LLC now owns 670,661 shares of the utilities provider’s stock valued at $29,690,000 after buying an additional 28,926 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Unitil by 16.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 296,433 shares of the utilities provider’s stock valued at $13,544,000 after buying an additional 42,785 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Unitil by 23.0% during the 4th quarter. Bank of New York Mellon Corp now owns 166,638 shares of the utilities provider’s stock valued at $7,377,000 after buying an additional 31,175 shares in the last quarter. Hedge funds and other institutional investors own 69.79% of the company’s stock.

In other news, SVP Todd R. Black sold 6,309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $46.16, for a total value of $291,223.44. Following the completion of the sale, the senior vice president now directly owns 22,776 shares of the company’s stock, valued at approximately $1,051,340.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by company insiders.

NYSE:UTL opened at $56.74 on Friday. The company has a market cap of $853.54 million, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 5.90 and a beta of 0.57. Unitil Co. has a 1 year low of $32.80 and a 1 year high of $59.32. The company has a 50 day moving average of $53.49. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.00.

Unitil (NYSE:UTL) last posted its quarterly earnings data on Tuesday, May 4th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.06. The business had revenue of $138.80 million during the quarter, compared to analyst estimates of $161.00 million. Unitil had a return on equity of 9.22% and a net margin of 8.41%. On average, analysts expect that Unitil Co. will post 2.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Thursday, May 13th. Unitil’s payout ratio is 70.70%.

Several research firms have weighed in on UTL. Zacks Investment Research upgraded Unitil from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Friday. Bank of America restated an “underperform” rating and set a $49.00 price target on shares of Unitil in a report on Wednesday, May 12th.

Unitil Company Profile

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. 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 and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area, as well as the greater Fitchburg area of north central Massachusetts.

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Institutional Ownership by Quarter for Unitil (NYSE:UTL)

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