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) 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.
Unitil Corporation (NYSE: UTL) announced a quarterly dividend of $0.38 per share, payable on August 27, 2021, to shareholders of record on August 13, 2021. This dividend results in an effective annualized dividend rate of $1.52 per share. With operations in New England, Unitil serves approximately 107,100 electric customers and 85,600 natural gas customers, committed to delivering reliable energy and supporting local communities.
Unitil Corporation (NYSE: UTL) will release its second quarter 2021 earnings on August 3, 2021, before market open. A conference call to discuss the results will be held at 10:00 a.m. (ET) the same day. The company serves approximately 107,100 electric and 85,600 natural gas customers in New England. More information can be found on their investor relations page.
Unitil Corporation (NYSE: UTL) reported a first-quarter 2021 net income of $18.9 million, equating to $1.26 in earnings per share, an increase of $3.7 million from Q1 2020. The rise in earnings is attributed to higher gas and electric adjusted gross margins, totaling $39.6 million and $17.2 million, respectively. Gas adjusted gross margin increased by $5.4 million, driven by rates and colder weather. Electric adjusted gross margin rose $0.6 million owing to customer growth. The company declared quarterly dividends of $0.38 per share, maintaining a consistent dividend history.
Unitil Corporation (NYSE:UTL) held its Annual Meeting of Shareholders on April 28, 2021, where shareholders elected three new Board members: Suzanne Foster, Thomas P. Meissner, Jr., and Justine Vogel, each for a three-year term. The meeting also ratified Deloitte & Touche, LLP as the independent public accountants for 2021, and 94.4% of shareholders approved the executive compensation advisory vote. CEO Thomas P. Meissner presented highlights from 2020 and discussed the utility industry's transition towards a low-carbon future. For details, visit www.unitil.com.
Unitil Corporation (NYSE:UTL) has declared a quarterly dividend of $0.38 per share, payable on May 28, 2021, to shareholders of record by May 14, 2021. This announcement results in an annualized dividend rate of $1.52 per share. Unitil operates in New England, providing energy to approximately 107,100 electric customers and 85,600 natural gas customers across Maine, New Hampshire, and Massachusetts.
Unitil Corporation (NYSE: UTL) has announced the release of its first quarter 2021 earnings on May 4, 2021, prior to market opening. Subsequently, a conference call will be held at 2:00 p.m. (ET) the same day to discuss the quarterly results. The call will be accessible via the Company’s Investors page, where related materials will also be available. Unitil, which operates in New England, serves approximately 107,100 electric and 85,600 natural gas customers, focusing on safe and reliable energy delivery.
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