Welcome to our dedicated page for Unitil Corporation news (Ticker: UTL), a resource for investors and traders seeking the latest updates and insights on Unitil Corporation stock.
Unitil Corporation (NYSE: UTL) is a public utility holding company that provides essential energy services in New England through its subsidiaries. The company focuses on the distribution of natural gas and electricity to residential, commercial, and industrial customers in Maine, New Hampshire, and Massachusetts. Unitil's commitment to its customers centers around safely and reliably delivering energy while fostering sustainable practices.
Unitil serves approximately 108,500 electric customers and 88,400 natural gas customers. The company operates through three primary segments: utility gas operations, utility electric operations, and non-regulated business. Its non-regulated segment, Usource, offers energy procurement and advisory services.
Recent financial results highlight Unitil's disciplined approach to cost management and strategic growth. For example, Electric GAAP Gross Margin for 2023 was $78.1 million, an increase driven by higher rates and customer growth. Similarly, Gas GAAP Gross Margin was $114.1 million, showcasing a strong financial profile despite challenges like warmer winter weather.
To engage stakeholders, Unitil frequently hosts conference calls and webcasts, making detailed financial and operational information accessible. The company continues to demonstrate resilience through proactive management of regulatory initiatives and a steadfast focus on sustainability. As part of its long-term strategy, Unitil maintains an unbroken record of quarterly dividend payments, reflecting its financial stability and shareholder value.
Unitil remains committed to community involvement, evidenced by its active engagement in developing people, business practices, and technologies that enhance energy efficiency. For more information about Unitil's services, community activities, and sustainability initiatives, visit unitil.com.
Unitil Corporation (NYSE: UTL) reported breakeven Net Income and EPS for Q3 2021, down $0.3 million from Q3 2020. For the nine months ending September 30, 2021, Net Income reached $21.6 million ($1.42 per share), an increase of $3.0 million from 2020. Q3 Gas and Electric Gross Margins were $11.3 million and $18.9 million, with year-to-date margins of $67.7 million and $54.0 million, respectively. The company issued 920,000 shares, driving customer growth and margins but faced higher operational costs. Dividends were declared at $0.38 per share, maintaining a consistent payout record.
Unitil Corporation (NYSE:UTL) has declared a quarterly dividend of $0.38 per share, set to be paid on November 29, 2021, to shareholders on record by November 15, 2021. This results in an annualized dividend rate of $1.52 per share. Unitil provides natural gas and electricity across New England, serving approximately 107,100 electric and 85,600 natural gas customers.
Unitil Corporation (NYSE: UTL) will announce its third quarter 2021 earnings on November 2, 2021, before the market opens. A conference call is scheduled for 10:00 a.m. (ET) the same day to discuss the results. The call will be available via a toll-free number and will also be accessible through a live webcast on the company's Investors page. Unitil serves approximately 107,100 electric and 85,600 natural gas customers across Maine, New Hampshire, and Massachusetts, focusing on reliable energy delivery and community involvement.
Unitil Corporation (NYSE: UTL) announced the closure of a public offering where underwriters exercised their option to purchase an additional 120,000 shares. This brings the total shares sold to 920,000 at $50.80 each, generating net proceeds of approximately $44.5 million. The funds will be used for equity capital contributions to its utility subsidiaries, debt repayment, and general corporate purposes. RBC Capital Markets and BofA Securities managed the offering, which follows an effective shelf registration statement filed with the SEC.
Unitil Corporation (NYSE: UTL) announced the closing of a public offering of 800,000 shares at $50.80 each, generating approximately $38.6 million for equity contributions to utility subsidiaries, debt repayment, and corporate purposes. An additional 120,000 shares may be purchased by underwriters. This offering was executed under an effective shelf registration statement. RBC Capital Markets and BofA Securities acted as joint managers.
Unitil Corporation (NYSE: UTL) announced the pricing of a public offering of 800,000 shares of common stock at $50.80 per share. There is an additional 30-day option for underwriters to purchase 120,000 shares. Proceeds will be utilized for equity capital contributions to regulated subsidiaries, debt repayment, and general corporate purposes. The closing is expected on August 6, 2021. RBC Capital Markets and BofA Securities are handling the offering.
Unitil Corporation (NYSE: UTL) announced a public offering of 800,000 newly issued shares of its common stock, with an additional 120,000 shares available through underwriters. The proceeds, expected to be significant, will be utilized for equity capital contributions to regulated utility subsidiaries, debt repayment, and general corporate purposes. RBC Capital Markets and BofA Securities are lead managers of the offering. The registration statement became effective on August 3, 2021.
Unitil Corporation (NYSE: UTL) reported a net income of $2.7 million, or $0.18 per share, for Q2 2021, a decline from the prior year's $3.1 million. Increased gas and electric adjusted margins were outweighed by higher operating expenses. For the first half of 2021, net income rose to $21.6 million, or $1.44 per share, thanks to increased adjusted margins. Notably, gas and electric gross margins improved, but operating expenses also rose significantly. The company reaffirmed its commitment to net-zero emissions by 2050, emphasizing environmental stewardship alongside service reliability.
Unitil Corporation announced a base rate case filing with the New Hampshire Public Utilities Commission to adjust natural gas distribution rates. This request includes a permanent increase of $7.8 million, representing an 8.1% hike in annual revenues. If approved, typical residential customers may see their bills rise by $15.28 monthly, translating to 13.5% extra. The proposal aims to incorporate a revenue decoupling mechanism and an arrearage management program to assist struggling customers. The last rate case was filed in 2017.
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