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Combine all ingredients in a medium saucepan over medium heat.
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Bring the mixture to a boil, then reduce heat to low and simmer for 30 minutes, or until the pumpkin butter has thickened and darkened slightly.
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Remove the pumpkin butter from the heat and let it cool completely.
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Transfer the pumpkin butter to an airtight container and store it in the refrigerator for up to two weeks.