If liberty (however defined) is a highly weighted term in a utility function, or rather in whatever approximation of a utility function people actually use to do consequential reasoning, then we can reconcile a consequentialist worldview with prioritizing it above other values. Generally when people talk about utilitarianism they mean happiness/suffering utilitarianism, but I can forgive a little imprecision in a news article.
An article from the Wall Street Journal. The original title might be slightly mind-killing for some people, but I found it moderately interesting especially considering that many LessWrongers formed part of the data set for the study the article talks about and a large fraction of us identified as libertarian on the last survey.
Inside the Cold, Calculating Libertarian Mind
The original paper.
Understanding Libertarian Morality: The Psychological Roots of an Individualist Ideology