Unitil prices public offering of 1.39 million common shares at $46.65

HAMPTON, N.H. - Unitil Corporation (NYSE:UTL) announced Thursday it has priced its public offering of 1,393,355 shares of common stock at $46.65 per share, with the transaction expected to close on August 18, 2025. The offering price represents a slight discount to the current market price of $49.12, with the stock trading near its 52-week low of $48.72. According to InvestingPro analysis, the company appears to be fairly valued at current levels.

The utility holding company has granted underwriters an option to purchase up to an additional 209,003 shares at the same price, less underwriting discounts and commissions.

Unitil plans to use the net proceeds to make equity capital contributions to its regulated utility subsidiaries, repay outstanding debt under its credit agreement dated January 29, 2025, and for general corporate purposes.

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 New England-based energy provider currently serves approximately 109,400 electricity customers and 97,600 natural gas customers across Maine, New Hampshire and Massachusetts.

The offering is being made through a prospectus supplement under the company’s effective registration statement on Form S-3ASR filed with the Securities and Exchange Commission, according to the company’s press release statement. For deeper insights into UTL’s financial health, valuation metrics, and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.

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’ expectations. The company also achieved revenue of $102.6 million, exceeding forecasts by 1.58%. In addition to these financial results, Unitil announced a registered offering of $65 million in common stock, with an option for underwriters to purchase an additional $9.75 million in shares. The proceeds from this offering are intended for equity capital contributions to its regulated utility subsidiaries, debt repayment, and general corporate purposes.

In related developments, Freedom Broker adjusted its price target for Unitil to $56.00, down from $57.00, while maintaining a Buy rating. This 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, affecting the firm’s valuation. These updates highlight the ongoing developments within Unitil as it navigates financial strategies and market conditions.

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