Welcome to our dedicated page for Unitil news (Ticker: UTL), a resource for investors and traders seeking the latest updates and insights on Unitil stock.
Unitil Corporation (NYSE: UTL) is a public utility holding company that distributes electricity and natural gas in New England, with operations in Maine, New Hampshire and Massachusetts. The news flow around Unitil frequently centers on its regulated utility performance, financial results, capital raising activities and utility acquisitions that expand its customer base and infrastructure.
On this page, readers can follow Unitil’s announcements about quarterly and year-to-date earnings, including discussions of GAAP Net Income, Adjusted Net Income and Electric and Gas Adjusted Gross Margins. These releases often explain how factors such as rate changes, customer growth, depreciation and amortization, and seasonal natural gas usage affect the company’s results. Unitil also uses news releases to describe how acquisition-related transaction costs tied to Bangor Natural Gas Company, Maine Natural Gas Company and the Aquarion Companies are treated in its non-GAAP metrics.
Investors and observers can also track Unitil’s corporate actions, such as common stock offerings under its shelf registration statement, credit agreements used to finance utility acquisitions, and long-term note issuances at subsidiaries like Bangor Natural Gas Company. Regular dividend declarations on UTL common stock, along with information on the company’s long-standing record of quarterly dividend payments, are another recurring theme in its news.
In addition, Unitil news items cover the timing of earnings releases and conference calls, as well as updates on completed acquisitions, including the purchase of Maine Natural Gas Company. By reviewing this news feed, users can monitor how Unitil manages its regulated electric and gas distribution businesses, finances growth, and reports on key developments affecting its New England operations.
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.
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.
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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.