Pictet Asset Management Holding SA Boosts Stake in Unitil Co. (NYSE:UTL)

Pictet Asset Management Holding SA boosted its stake in shares of Unitil Co. (NYSE:UTL) by 32.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,374 shares of the utilities provider’s stock after purchasing an additional 1,304 shares during the period. Pictet Asset Management Holding SA’s holdings in Unitil were worth $291,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. US Bancorp DE raised its stake in shares of Unitil by 8,333.3% in the fourth quarter. US Bancorp DE now owns 2,024 shares of the utilities provider’s stock worth $110,000 after buying an additional 2,000 shares during the period. Centiva Capital LP purchased a new stake in Unitil in the 3rd quarter worth approximately $271,000. PNC Financial Services Group Inc. raised its stake in Unitil by 14.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,703 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 709 shares during the period. Meritage Portfolio Management lifted its holdings in Unitil by 12.3% during the fourth quarter. Meritage Portfolio Management now owns 6,515 shares of the utilities provider’s stock valued at $353,000 after purchasing an additional 715 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Unitil in the fourth quarter worth approximately $385,000. Institutional investors own 76.76% of the company’s stock.

Wall Street Analyst Weigh In

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

Unitil Price Performance

Shares of Unitil stock opened at $56.17 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.25. Unitil Co. has a 52 week low of $47.40 and a 52 week high of $63.52. The stock’s 50-day simple moving average is $56.11 and its 200-day simple moving average is $56.60. The company has a market capitalization of $912.46 million, a price-to-earnings ratio of 19.17 and a beta of 0.58.

Unitil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.20%. This is an increase from Unitil’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, February 13th. Unitil’s dividend payout ratio is presently 61.43%.

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.