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 base rate case filing with the New Hampshire Public Utilities Commission for its electric distribution utility, Unitil Energy Systems, Inc. The proposal seeks a $11.99 million increase (4.4%) in base rates, potentially raising residential bills by $9.87 per month (8.2%) for an average usage of 600 kWh. The filing includes initiatives for modernizing the electric grid, EV infrastructure, and customer support programs. The review process may last up to a year, following the last rate case filed in 2016.
Unitil Corporation (NYSE:UTL) announced the retirement of Senior Vice President Laurence M. Brock, effective July 1, 2021, after 40 years in the industry. Mr. Brock emphasized his gratitude for Unitil’s dedicated employees during his 26-year tenure. He played crucial roles, including Chief Financial Officer and Treasurer. Unitil, which delivers natural gas and electricity in New England, serves approximately 107,100 electric customers and 85,600 natural gas customers. The company is committed to efficient energy delivery and community involvement.
Unitil Corporation (NYSE: UTL) announced a quarterly dividend increase to $0.38 per share, raising the annualized dividend rate to $1.52. The first quarter dividend is payable on February 26, 2021, to shareholders of record as of February 12, 2021. This marks an unbroken record of quarterly dividend payments since the company's inception and reflects confidence in future growth, according to CEO Thomas P. Meissner, Jr.
Unitil Corporation (NYSE: UTL) has announced the release date for its fourth quarter 2020 earnings, set for February 2, 2021, before market opening. Following this, a conference call will be held at 2:00 p.m. (ET) to discuss the results. Interested parties can access the call via a toll-free number and the event will be available for replay afterwards. Unitil operates in New England, serving approximately 107,100 electric and 85,600 natural gas customers, focusing on reliable energy delivery and community involvement.
Unitil Corporation (NYSE: UTL) reported a Net Income of $0.3 million, or $0.02 EPS, for Q3 2020, down $2.0 million from Q3 2019 due to lower sales margins and increased operating costs. For the nine months ending September 30, 2020, Net Income reached $18.6 million, a decline of $14.2 million year-over-year. Factors impacting earnings included warmer winter weather and the economic slowdown from the COVID-19 pandemic. Total gas and electric gross margins decreased, while sales to residential customers rose due to pandemic-related stay-at-home orders, reflecting customer growth.
Unitil Corporation (NYSE: UTL) declared a quarterly dividend of $0.375 per share, payable on November 30, 2020, to shareholders of record on November 16, 2020. This results in an annualized dividend rate of $1.50 per share. Unitil provides energy services across New England, serving approximately 106,100 electric and 83,900 natural gas customers, focusing on reliable energy delivery and community commitment.
Unitil Corporation (NYSE: UTL) announced its upcoming third quarter 2020 earnings release scheduled for October 29, 2020, before market opens. A conference call will take place the same day at 2:00 p.m. (ET) to discuss the results. Interested parties can participate via a toll-free call or through a live webcast on the Company’s Investors page. Unitil serves approximately 106,100 electric and 83,900 natural gas customers in New England, emphasizing commitment to reliable energy delivery and community service.
Unitil Corporation (NYSE: UTL) reported a net income of $3.1 million, or $0.21 EPS, for Q2 2020, down from $4.0 million, or $0.27 EPS, in Q2 2019. For the first half of 2020, net income was $18.3 million, or $1.23 EPS, a decrease from $30.5 million, or $2.05 EPS, in 2019. This drop is attributed to lower gas sales margins, warmer weather impacting sales, and economic slowdowns due to COVID-19. Gas and Electric Gross Margins totaled $15.5 million and $16.5 million for Q2, with operational expenses reduced by $1.3 million. The company declared a quarterly dividend of $0.375 per share.
Unitil Corporation (NYSE: UTL) has declared a quarterly dividend of $0.375 per share, set to be paid on August 28, 2020, to shareholders of record by August 14, 2020. This results in an effective annualized dividend rate of $1.50 per share. Unitil provides energy solutions across New England, serving approximately 106,100 electric and 83,900 natural gas customers, demonstrating its commitment to reliable energy delivery.
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