Wernau Asset Management Inc. Acquires Shares of 49,317 Unitil Co. (NYSE:UTL)

Wernau Asset Management Inc. bought a new position in shares of Unitil Co. (NYSE:UTL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 49,317 shares of the utilities provider’s stock, valued at approximately $2,673,000. Unitil makes up about 2.0% of Wernau Asset Management Inc.’s portfolio, making the stock its 9th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Creative Planning increased its holdings in Unitil by 5.9% during the 3rd quarter. Creative Planning now owns 7,155 shares of the utilities provider’s stock worth $433,000 after purchasing an additional 397 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Unitil by 2.1% during the third quarter. Principal Financial Group Inc. now owns 81,392 shares of the utilities provider’s stock worth $4,931,000 after buying an additional 1,659 shares in the last quarter. Meritage Portfolio Management raised its position in Unitil by 9.1% in the 3rd quarter. Meritage Portfolio Management now owns 5,800 shares of the utilities provider’s stock valued at $351,000 after buying an additional 482 shares during the last quarter. Foundry Partners LLC lifted its stake in Unitil by 1.2% during the 3rd quarter. Foundry Partners LLC now owns 113,925 shares of the utilities provider’s stock valued at $6,902,000 after acquiring an additional 1,320 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Unitil by 11.2% during the 3rd quarter. Cerity Partners LLC now owns 9,154 shares of the utilities provider’s stock worth $555,000 after acquiring an additional 920 shares during the last quarter. 76.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Unitil Price Performance

Unitil stock opened at $55.97 on Monday. Unitil Co. has a 52 week low of $47.40 and a 52 week high of $63.52. The company’s 50 day moving average price is $54.45 and its two-hundred day moving average price is $57.34. The stock has a market cap of $909.22 million, a P/E ratio of 19.10 and a beta of 0.63. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.80 annualized dividend and a yield of 3.22%. This is a boost from Unitil’s previous quarterly dividend of $0.43. Unitil’s payout ratio is currently 61.43%.

Unitil Company 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.