Unitil Corporation (UTL) to Issue Quarterly Dividend of $0.47 on August 31st

Unitil Corporation (NYSE:UTL) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Monday, August 17th will be given a dividend of 0.475 per share by the utilities provider on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, August 17th.

Unitil has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 12 years. Unitil has a dividend payout ratio of 57.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Unitil to earn $3.51 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 54.1%.

Unitil Price Performance

Shares of NYSE:UTL opened at $54.62 on Friday. Unitil has a one year low of $44.61 and a one year high of $57.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.49 and a quick ratio of 0.45. The company has a market cap of $996.36 million, a price-to-earnings ratio of 17.23 and a beta of 0.31. The firm has a 50 day simple moving average of $53.24 and a 200 day simple moving average of $52.33.

Unitil (NYSE:UTL) last posted its earnings results on Monday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $113.19 million for the quarter, compared to analysts’ expectations of $113.19 million. Unitil had a net margin of 9.49% and a return on equity of 9.53%. Research analysts predict that Unitil will post 3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Unitil

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new position in shares of Unitil during the second quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in shares of Unitil in the fourth quarter worth $26,000. Larson Financial Group LLC bought a new stake in shares of Unitil in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Unitil in the third quarter worth $29,000. Finally, Bessemer Group Inc. increased its holdings in Unitil by 196.1% in the first quarter. Bessemer Group Inc. now owns 610 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 404 shares during the period. 76.76% of the stock is owned by institutional investors.

About Unitil

Unitil Corporation (NYSE: UTL) is a publicly traded energy delivery company that provides regulated electric and natural gas distribution services. The company delivers energy to residential, commercial and industrial customers through a network of distribution systems, offering safe and reliable service across its service areas. Unitil’s operations include system maintenance, emergency response, meter reading and customer support functions, all governed by state regulatory commissions.

Headquartered in Hampton, New Hampshire, Unitil serves communities in New Hampshire, Massachusetts and Maine.