CANADA LIFE ASSURANCE Co Reduces Position in Unitil Co. (NYSE:UTL)

CANADA LIFE ASSURANCE Co cut its holdings in shares of Unitil Co. (NYSE:UTL) by 1.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 25,468 shares of the utilities provider’s stock after selling 302 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Unitil were worth $1,377,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in shares of Unitil by 798.2% during the fourth quarter. Sterling Capital Management LLC now owns 512 shares of the utilities provider’s stock valued at $28,000 after buying an additional 455 shares during the period. US Bancorp DE increased its position in shares of 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 buying an additional 2,000 shares during the period. Mariner LLC increased its position in shares of Unitil by 20.4% during the fourth quarter. Mariner LLC now owns 5,163 shares of the utilities provider’s stock valued at $280,000 after buying an additional 875 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Unitil by 32.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,374 shares of the utilities provider’s stock valued at $291,000 after buying an additional 1,304 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Unitil by 14.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,703 shares of the utilities provider’s stock valued at $309,000 after buying an additional 709 shares during the period. 76.76% of the stock is owned by hedge funds and other institutional investors.

Unitil Stock Up 0.9 %

UTL stock opened at $58.86 on Tuesday. 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 company’s 50 day moving average is $56.73 and its 200 day moving average is $56.54. The stock has a market cap of $956.24 million, a price-to-earnings ratio of 20.09 and a beta of 0.58. Unitil Co. has a 1-year low of $48.94 and a 1-year high of $63.52.

Unitil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 13th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.06%. This is a boost from Unitil’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, February 13th. Unitil’s dividend payout ratio is 61.43%.

Wall Street Analysts Forecast Growth

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

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.