Wernau Asset Management Inc. Purchases New Position in Unitil Co. (NYSE:UTL)

Wernau Asset Management Inc. purchased a new stake in shares of Unitil Co. (NYSE:UTL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 49,317 shares of the utilities provider's stock, valued at approximately $2,673,000. Unitil accounts for approximately 2.0% of Wernau Asset Management Inc.'s investment portfolio, making the stock its 9th biggest holding. Wernau Asset Management Inc. owned 0.30% of Unitil as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in UTL. Exchange Traded Concepts LLC lifted its position in shares of 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 buying an additional 325 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Unitil by 4.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 9,286 shares of the utilities provider's stock valued at $503,000 after purchasing an additional 389 shares in the last quarter. Creative Planning boosted its position in shares of Unitil by 5.9% in the third quarter. Creative Planning now owns 7,155 shares of the utilities provider's stock worth $433,000 after purchasing an additional 397 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Unitil by 2.7% in the fourth quarter. Hennessy Advisors Inc. now owns 15,398 shares of the utilities provider's stock worth $834,000 after purchasing an additional 400 shares in the last quarter. Finally, Anchor Capital Advisors LLC raised its position in shares of Unitil by 1.5% during the 4th quarter. Anchor Capital Advisors LLC now owns 31,181 shares of the utilities provider's stock valued at $1,690,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 76.76% of the company's stock.

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Unitil Price Performance

UTL traded down $0.59 on Thursday, hitting $54.60. 55,932 shares of the company's stock traded hands, compared to its average volume of 59,377. The company's 50 day simple moving average is $54.56 and its 200-day simple moving average is $57.30. The company has a current ratio of 0.83, a quick ratio of 0.76 and a debt-to-equity ratio of 1.25. Unitil Co. has a one year low of $47.40 and a one year high of $63.52. The firm has a market cap of $886.95 million, a price-to-earnings ratio of 18.63 and a beta of 0.63.

Unitil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Thursday, February 13th. This is an increase from Unitil's previous quarterly dividend of $0.43. Unitil's payout ratio is 61.43%.

Analyst Ratings Changes

Separately, Guggenheim reiterated a "neutral" rating and issued a $55.00 price target on shares of Unitil in a research note 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.