Unitil announces $65 million common stock offering

HAMPTON, N.H. - Unitil Corporation (NYSE:UTL), currently trading near its 52-week low with a market capitalization of approximately $799 million, announced Thursday a registered offering of $65 million of its common stock, with an option for underwriters to purchase up to an additional $9.75 million of shares.

The utility holding company plans to use the net proceeds to make equity capital contributions to its regulated utility subsidiaries, repay outstanding debt, and for general corporate purposes. According to InvestingPro data, the company operates with a significant debt burden, with total debt of $818.2 million and a current ratio of 0.58.

Wells Fargo Securities, LLC and Scotia Capital (USA) Inc. are serving as active bookrunners for the offering, with Janney Montgomery Scott LLC acting as bookrunner.

The proposed offering remains subject to market and other conditions, with no guarantee of completion or final terms.

Unitil provides electricity and natural gas services across New England, serving approximately 109,400 electric customers and 97,600 natural gas customers through its operations in Maine, New Hampshire, and Massachusetts.

The offering will be made through a prospectus supplement under the company’s effective registration statement on Form S-3ASR filed with the Securities and Exchange Commission.

This announcement comes as part of the company’s ongoing capital management strategy, according to the press release statement issued by the utility provider.

In other recent news, Unitil Corporation reported its second-quarter earnings for 2025, with an adjusted earnings per share (EPS) of $0.29, meeting analysts’ forecasts. The company also reported revenue of $102.6 million, exceeding expectations by 1.58%. Despite these results, investor concerns about future profitability and market conditions were noted. In related developments, Freedom Broker adjusted its price target for Unitil Corporation to $56.00 from $57.00, while maintaining a Buy rating. The adjustment was attributed to a slightly lower than expected consolidated rate base in the second quarter of 2025 and a small increase in the number of shares, which affected the firm’s valuation. These recent developments provide insights into the current financial standing and market perception of Unitil Corporation.

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