Unitil
Northeast regulated electric-and-gas distribution utility serving New Hampshire, Massachusetts, and Maine.
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Profile
A New Hampshire-based holding company that distributes regulated electricity and natural gas to roughly 226,100 customers across three New England states — through five utility subsidiaries plus an interstate gas pipeline — and, having just closed on two Aquarion water utilities in New Hampshire, has added regulated water service as a new business line.
A New Hampshire-based utility holding company operating regulated electric distribution in southeastern New Hampshire and the Fitchburg area of Massachusetts, and regulated natural gas distribution across the same footprint plus Maine — including Portland, Lewiston–Auburn, Bangor, and Augusta.
Two reportable segments, Electric and Gas, contribute roughly evenly to revenue. Distribution service runs through five subsidiary utilities and a FERC-regulated interstate pipeline. The customer base runs to roughly 226,100 across three New England states.
Growth in the mid-2020s has come from a run of small Maine gas utility acquisitions and a just-completed move into regulated water in New Hampshire via two Aquarion Water Authority subsidiaries. Every service line is monopoly-franchised and rate-regulated by state PUCs, with FERC oversight of the interstate gas pipeline.
Company facts
Key statistics
Year to date +8.5% · Average volume (30d) 105.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| May 11, 2026 | Wells Fargo | Target | $56 | ||
| May 5, 2026 | Freedom Broker | Downgrade | Buy | Hold | |
| Apr 9, 2026 | Scotiabank | Target | $57 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.26 | $0.29 | +10.1% | $113.2M | $116.0M | +2.4% | +0.19% |
| May 4, 2026Q1 FY26 | $1.86 | $1.88 | +1.1% | $179.1M | $198.6M | +10.9% | −3.93% |
| Feb 9, 2026Q4 FY25 | $1.03 | $1.13 | +9.7% | $142.9M | $161.5M | +13.0% | +0.43% |
| Nov 3, 2025Q3 FY25 | −$0.03 | $0.03 | +200.0% | $144.5M | $101.1M | −30.0% | −0.73% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $170.8M | $102.6M | $101.1M | $161.5M | $216.9M | $117.0M | |
| Gross profit | $75.8M | $41.7M | $37.8M | $65.9M | $88.3M | $102.3M | |
| Operating income | $46.2M | $13.3M | $7.0M | $34.7M | $55.9M | $15.4M | |
| Net income | $27.5M | $4.0M | −$300.0K | $19.0M | $33.2M | $4.7M | |
| Diluted EPS | $1.69 | $0.25 | −$0.02 | $1.05 | $1.85 | $0.26 | |
| Gross margin | 44.4% | 40.6% | 37.4% | 40.8% | 40.7% | 87.4% | |
| Operating margin | 27.0% | 13.0% | 6.9% | 21.5% | 25.8% | 13.2% |
Fiscal years (4-quarter sums)FY21 $473.3M · FY22 $563.2M · FY23 $557.1M · FY24 $494.8M · FY25 $536.0M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $9.2M · Total debt $956.0M · Total assets $2.22B · Shareholders' equity $643.7M
Dividends
Raised for 38 straight years — most recently to $0.475 from $0.45 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 31 | $0.475 | |
| May 14, 2026 | May 14 | May 29 | $0.475 | |
| Feb 12, 2026 | Feb 12 | Feb 27 | $0.475 | raised from $0.45 |
| Nov 13, 2025 | Nov 13 | Nov 28 | $0.45 | |
| Aug 14, 2025 | Aug 14 | Aug 28 | $0.45 | |
| May 15, 2025 | May 15 | May 30 | $0.45 | |
| Feb 13, 2025 | Feb 13 | Feb 28 | $0.45 | raised from $0.425 |
| Nov 14, 2024 | Nov 14 | Nov 29 | $0.425 |
Ownership
Shares outstanding 17.99M · Float 17.83M · 99.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.89M | 16.08% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 803.5K | 4.47% | 13F | Aug 13, 2026 |
| State Street Corp | 782.2K | 4.35% | 13F | Aug 7, 2026 |
| Frontier Capital Management Co LLC | 553.3K | 3.08% | 13F | Aug 14, 2026 |
| Manufacturers Life Insurance Company, the | 509.9K | 2.83% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
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- Black Hills
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- Eversource Energy
New England mega-utility, former parent of just-sold Aquarion water
- Spire
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- York Water
Pennsylvania small-cap regulated water and wastewater utility
- National Fuel Gas
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CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Unitil | $53.10 | −0.13% | $955.3M | 16.9 | 16.3 | 1.6 | +13.0% |
| NW Natural | $49.50 | +0.02% | $2.08B | 16.2 | 15.7 | 1.6 | +3.1% |
| Black Hills | $72.80 | −0.03% | $5.54B | 18.4 | 15.6 | 2.4 | +3.1% |
| Avista | $37.66 | 0.00% | $3.15B | 13.5 | 14.3 | 1.6 | +0.5% |
| New Jersey Resources | $53.60 | +0.02% | $5.41B | 14.8 | 16.1 | 2.4 | +16.8% |
| Eversource Energy | $70.84 | +0.02% | $26.64B | 18.4 | 15.1 | 1.9 | +2.3% |
| Spire | $82.56 | −0.05% | $4.88B | 9.2 | 16.9 | 1.9 | −0.4% |
| York Water | $34.12 | +0.06% | $553.1M | 21.2 | 21.0 | 93.2 | +22.5% |
| National Fuel Gas | $82.97 | +0.02% | $7.89B | 11.5 | 11.0 | 3.1 | +1.1% |
| Median | 15.5 | 15.7 | 2.2 | +2.7% |