Bank of New York Mellon Corp Has $11.03 Million Stock Holdings in Unitil Co. (NYSE:UTL)

Bank of New York Mellon Corp lifted its position in Unitil Co. (NYSE:UTL) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 203,475 shares of the utilities provider’s stock after purchasing an additional 2,130 shares during the quarter. Bank of New York Mellon Corp owned 1.26% of Unitil worth $11,026,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Unitil by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 84,277 shares of the utilities provider’s stock worth $4,567,000 after buying an additional 2,885 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Unitil by 1.8% in the 4th quarter. Rhumbline Advisers now owns 52,711 shares of the utilities provider’s stock worth $2,856,000 after acquiring an additional 916 shares in the last quarter. Meritage Portfolio Management grew its position in Unitil by 12.3% during the 4th quarter. Meritage Portfolio Management now owns 6,515 shares of the utilities provider’s stock worth $353,000 after acquiring an additional 715 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Unitil by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 12,843 shares of the utilities provider’s stock valued at $696,000 after purchasing an additional 325 shares in the last quarter. Finally, Ellsworth Advisors LLC increased its holdings in Unitil by 11.5% during the 4th quarter. Ellsworth Advisors LLC now owns 10,582 shares of the utilities provider’s stock valued at $573,000 after purchasing an additional 1,088 shares in the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.

Unitil Stock Up 1.4 %

Shares of NYSE:UTL opened at $55.26 on Friday. Unitil Co. has a 12 month low of $47.40 and a 12 month high of $63.52. The firm has a market cap of $897.77 million, a P/E ratio of 18.86 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $54.68 and its two-hundred day moving average price is $57.15.

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 paid a dividend of $0.45 per share. This is a boost from Unitil’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Thursday, February 13th. Unitil’s dividend payout ratio is 61.43%.

Analyst Ratings Changes

Separately, Guggenheim restated a “neutral” rating and set a $55.00 target price on shares of Unitil in a report 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.