Unitil Corp Stock Research

Market Summary

USD51.06-0.78

Market Closed

-1.50%

UTL Stock Price

UTL RSI Chart

UTL Valuation

Market Cap

819.0M

Price/Earnings (Trailing)

19.78

Price/Sales (Trailing)

1.51

EV/EBITDA

16.65

Price/Free Cashflow

-38.27

UTL Price/Sales (Trailing)

UTL Profitability

EBT Margin

9.79%

Return on Equity

9.02%

Return on Assets

2.62%

Free Cashflow Yield

-2.61%

UTL Fundamentals

UTL Revenue

Revenue (TTM)

541.5M

Revenue Y/Y

12.33%

Revenue Q/Q

11.43%

UTL Earnings

Earnings (TTM)

41.4M

Earnings Y/Y

81.48%

Earnings Q/Q

-89.8%

Price Action

52 Week Range

44.3360.21

(Low)(High)

Last 7 days

-2.3%

Last 30 days

-0.6%

Last 90 days

-3.5%

Trailing 12 Months

13.7%

UTL Financial Health

Current Ratio

0.78

Debt/Equity

1.09

Debt/Cashflow

0.19

UTL Investor Care

Dividend Yield

3.04%

Dividend/Share (TTM)

1.55

Shares Dilution (1Y)

0.42%

Diluted EPS (TTM)

2.61

Peers (Alternatives to Unitil)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ED	33.7B	14.7B	-1.10%	18.73%	20.46	2.3	10.88%	47.01%
PEG	30.1B	9.7B	-1.08%	-5.80%	43.8	3.1	7.16%	203.93%
WEC	29.3B	9.2B	-2.42%	1.31%	35.91	3.17	14.83%	54.61%
AEE	22.5B	2.1B	-2.46%	2.31%	21.65	10.88	62.30%	5.69%
CMS	18.1B	-	-1.79%	1.76%	13.9	2.01	16.57%	48.97%
NI	11.2B	5.6B	-0.11%	1.72%	15.4	2.01	18.13%	44.12%
MID-CAP
UGI	8.6B	9.6B	7.36%	-8.27%	7.98	0.89	34.73%	-26.86%
BKH	4.6B	2.2B	1.61%	10.64%	18.17	1.91	21.85%	0.15%
NWE	3.3B	1.4B	-4.01%	-0.30%	19.56	2.34	4.59%	-11.35%
AVA	2.9B	1.7B	-9.01%	-5.23%	23.03	1.78	18.12%	-17.46%
SJW	2.3B	589.1M	-6.90%	16.92%	40.05	3.97	3.41%	4.67%
SMALL-CAP
MSEX	1.5B	157.6M	4.08%	-12.46%	35.67	9.61	9.67%	12.98%
UTL	819.0M	541.5M	-0.56%	13.68%	19.78	1.51	20.23%	17.61%
GNE	278.1M	364.5M	-3.25%	116.13%	2.8	0.76	3.55%	9592.01%

Financials for Unitil

Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	2.3%	542	529	527	473	450
EBITDA	0.6%	79	78	78	75	-
EBITDA Margin	-1.6%	0.15*	0.15*	0.15*	0.16*	-
Earnings Before Taxes	0.6%	53	53	51	48	47
EBT Margin	-1.7%	0.10*	0.10*	0.10*	0.10*	-
Interest Expenses	0.8%	26	26	26	26	26
Net Income	1.2%	41	41	39	36	35
Net Income Margin	-1.0%	0.08*	0.08*	0.07*	0.08*	-
Free Cahsflow	8.5%	-21.40	-23.40	-27.10	-7.20	-

* denotes actual numbers (not divided by Millions)

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	2.1%	1,579	1,547	1,552	1,540	1,509
Current Assets	8.3%	151	139	163	160	121
Cash Equivalents	54.9%	8	5	7	7	9
Current Liabilities	24.9%	194	155	158	174	127
. Short Term Borrowings	55.8%	72	46	64	64	31
Long Term Debt	-0.4%	501	503	505	506	511
LT Debt, Current	0%	8	8	8	8	10
LT Debt, Non Current	-0.4%	493	495	497	498	501
Shareholder's Equity	-1.2%	459	464	465	449	440
Retained Earnings	-4.5%	124	130	131	116	108
Shares Outstanding	0.0%	16	16	16	16	16

* denotes actual numbers (not divided by Millions)

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	0.2%	95	94	89	108	97
Cashflow From Investing	1.5%	-116.00	-117.80	-116.30	-115.00	-110.50
Cashflow From Financing	-12.8%	21	24	28	8	14
Dividend Payments	1.2%	25	25	24	24	23

Risks for UTL

What is the probability of a big loss on UTL?

53.1%

Probability that Unitil stock will be more than 20% underwater in next one year

24.6%

Probability that Unitil stock will be more than 30% underwater in next one year.

10.8%

Probability that Unitil stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does UTL drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Unitil was unfortunately bought at previous high price.

Drawdowns

Returns for UTL

Cumulative Returns on UTL

10.3%

10-Year Cumulative Returns

7.3%

7-Year Cumulative Returns

6.3%

5-Year Cumulative Returns

-4.2%

3-Year Cumulative Returns

What are the long-term rolling returns for UTL?

FIve years rolling returns for Unitil.

Annualized Returns

Which funds bought or sold UTL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-01-26	COMERICA BANK	reduced	-22.26	-103,000	503,000	-%
2023-01-26	Piscataqua Savings Bank	new	-	15,408	15,408	0.01%
2023-01-26	STRS OHIO	reduced	-11.03	-11,000	662,000	-%
2023-01-26	State of Tennessee, Treasury Department	reduced	-16.15	-533,000	1,049,000	-%
2023-01-26	OREGON PUBLIC EMPLOYEES RETIREMENT FUND	added	0.66	27,800	273,800	-%
2023-01-25	FIFTH THIRD BANCORP	unchanged	-	909	7,909	-%
2023-01-25	Versant Capital Management, Inc	reduced	-4.42	547	5,547	-%
2023-01-25	Lindbrook Capital, LLC	reduced	-1.43	632	10,632	-%
2023-01-24	Louisiana State Employees Retirement System	reduced	-1.3	32,000	390,000	0.01%
2023-01-23	Allspring Global Investments Holdings, LLC	reduced	-95.24	-1,731,800	96,197	-%

Latest Funds Activity

Are funds buying UTL calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own UTL

No. of Funds

Unitil News

Schedule 13G FIlings of Unitil

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Jan 23, 2023	blackrock inc.	18.2%	2,924,754	SC 13G/A
Feb 14, 2022	caisse de depot et placement du quebec	0.0%	0	SC 13G/A
Feb 11, 2022	renaissance technologies llc	3.72%	594,851	SC 13G/A
Feb 09, 2022	vanguard group inc	7.06%	1,127,997	SC 13G/A
Jan 27, 2022	blackrock inc.	17.4%	2,771,658	SC 13G/A
Jan 25, 2022	blackrock inc.	17.4%	2,771,658	SC 13G/A
May 07, 2021	blackrock inc.	17.6%	2,640,073	SC 13G/A
Feb 12, 2021	caisse de depot et placement du quebec	6.3%	948,469	SC 13G/A
Feb 11, 2021	renaissance technologies llc	5.02%	753,951	SC 13G/A
Feb 10, 2021	vanguard group inc	6.11%	916,576	SC 13G/A

UTL Fair Value

Recent SEC filings of Unitil

View All Filings

Date Filed	Form Type	Document
Jan 26, 2023	4	Insider Trading
Jan 26, 2023	4	Insider Trading
Jan 26, 2023	4	Insider Trading
Jan 26, 2023	4	Insider Trading
Jan 26, 2023	4	Insider Trading
Jan 26, 2023	4	Insider Trading
Jan 26, 2023	4	Insider Trading
Jan 26, 2023	4	Insider Trading
Jan 23, 2023	SC 13G/A	Major Ownership Report
Nov 07, 2022	4	Insider Trading

Latest Insider Trading transactions for UTL

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-24	WHITNEY SANDRA L	acquired	-	-	440	corporate secretary
2023-01-24	BLACK TODD R	acquired	-	-	1,940	senior vice president
2023-01-24	LeBlanc Christopher J	acquired	-	-	1,940	vice president
2023-01-24	Hevert Robert B	acquired	-	-	4,040	svp, cfo & treasurer
2023-01-24	Hurstak Daniel J	acquired	-	-	1,940	cao & controller
2023-01-24	Eisfeller Justin	acquired	-	-	1,940	vp, it & cto
2023-01-24	MEISSNER THOMAS P JR	acquired	-	-	13,640	chairman, president & ceo
2022-11-03	Awad Neveen F	acquired	13,235.9	46.77	283	-
2022-10-03	Vogel Justine	acquired	79,976.7	46.77	1,710	-
2022-10-03	GODFREY EDWARD F	acquired	79,976.7	46.77	1,710	-

About Unitil

Thomas P. Meissner

www.unitil.com

510

Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas. It operates through three segments: Utility Electric Operations, Utility Gas Operations, and Non-Regulated. The company distributes electricity in the southeastern seacoast and state capital regions of New Hampshire, and the greater Fitchburg area of north central Massachusetts; and distributes natural gas in southeastern New Hampshire and portions of southern and central Maine, including the city of Portland and the Lewiston-Auburn area, as well as the greater Fitchburg area of north central Massachusetts. It also operates 86 miles of interstate underground natural gas transmission pipeline that provides interstate natural gas pipeline access and transportation services primarily in Maine and New Hampshire. In addition, the company provides energy brokering and advisory services to commercial and industrial customers; and real estate management services. It serves approximately 107,700 electric customers and 86,600 natural gas customers. Unitil Corporation was incorporated in 1984 and is headquartered in Hampton, New Hampshire.

UTL Income Statement

2022-09-30

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Revenues
Total Operating Revenues	$ 110.2	$ 98.1	$ 401.7	$ 333.5
Operating Expenses
Operation and Maintenance	18.6	16.7	55.5	51.2
Depreciation and Amortization	16.6	14.8	46.9	44.5
Taxes Other than Income Taxes	6.4	6.1	19.9	18.5
Total Operating Expenses	103.0	90.9	346.8	282.1
Operating Income	7.2	7.2	54.9	51.4
Interest Expense, Net	6.6	6.5	19.1	19.5
Other Expense (Income), Net	0.6	1.0	1.9	3.4
Income (Loss) Before Income Taxes	0.0	(0.3)	33.9	28.5
Provision (Benefit) for Income Taxes	(0.5)	(0.3)	7.0	6.9
Net Income	$ 0.5	$ 0.0	$ 26.9	$ 21.6
Net Income Per Common Share-Basic	$ 0.03	$ 0	$ 1.68	$ 1.42
Net Income Per Common Share-Diluted	$ 0.03	$ 0	$ 1.68	$ 1.42
Weighted Average Common Shares Outstanding-Basic	16.0	15.5	16.0	15.2
Weighted Average Common Shares Outstanding-Diluted	16.0	15.5	16.0	15.2
Electric
Operating Revenues
Total Operating Revenues	$ 75.7	$ 65.5	$ 219.2	$ 182.2
Operating Expenses
Cost of Sales	47.3	40.1	142.6	108.8
Gas
Operating Revenues
Total Operating Revenues	34.5	32.6	182.5	151.3
Operating Expenses
Cost of Sales	$ 14.1	$ 13.2	$ 81.9	$ 59.1

UTL Balance Sheet

2022-09-30

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Current Assets:
Cash and Cash Equivalents	$ 7.9	$ 6.5	$ 8.8
Accounts Receivable, Net	51.7	66.9	46.3
Accrued Revenue	46.9	61.2	38.6
Exchange Gas Receivable	25.1	7.4	10.5
Gas Inventory	1.7	1.0	0.9
Materials and Supplies	10.1	8.6	8.6
Prepayments and Other	7.2	8.1	7.3
Total Current Assets	150.6	159.7	121.0
Utility Plant:
Electric	612.7	602.4	581.0
Gas	995.7	972.6	932.8
Common	66.7	66.4	64.8
Construction Work in Progress	81.9	47.5	84.8
Total Utility Plant	1,757.0	1,688.9	1,663.4
Less: Accumulated Depreciation	453.2	431.7	426.1
Net Utility Plant	1,303.8	1,257.2	1,237.3
Other Noncurrent Assets:
Regulatory Assets	105.5	108.9	132.4
Operating Lease Right of Use Assets	4.6	4.7	5.1
Other Assets	14.4	9.8	13.2
Total Other Noncurrent Assets	124.5	123.4	150.7
TOTAL ASSETS	1,578.9	1,540.3	1,509.0
Current Liabilities:
Accounts Payable	35.2	52.4	29.5
Short-Term Debt	72.0	64.1	30.5
Long-Term Debt, Current Portion	8.2	8.2	10.1
Regulatory Liabilities	20.8	9.5	13.1
Energy Supply Obligations	29.8	14.5	16.1
Interest Payable	6.5	4.8	6.7
Environmental Obligations	0.6	0.5	0.7
Other Current Liabilities	20.5	19.5	19.9
Total Current Liabilities	193.6	173.5	126.6
Noncurrent Liabilities:
Retirement Benefit Obligations	135.2	133.9	166.2
Deferred Income Taxes, Net	136.1	127.7	115.7
Cost of Removal Obligations	115.4	107.5	108.2
Regulatory Liabilities	37.9	42.6	42.9
Environmental Obligations	2.2	2.2	1.7
Other Noncurrent Liabilities	6.6	6.6	6.8
Total Noncurrent Liabilities	433.4	420.5	441.5
Capitalization:
Long-Term Debt, Less Current Portion	493.1	497.8	501.3
Stockholders' Equity:
Common Equity (Authorized: 25,000,000 and Outstanding: 16,039,141 15,971,962 and 15,977,766 Shares)	334.4	332.1	331.6
Retained Earnings	124.2	116.2	107.8
Total Common Stock Equity	458.6	448.3	439.4
Preferred Stock	0.2	0.2	0.2
Total Stockholders' Equity	458.8	448.5	439.6
Total Capitalization	951.9	946.3	940.9
Commitments and Contingencies (Notes 6 & 7)
TOTAL LIABILITIES AND CAPITALIZATION	$ 1,578.9	$ 1,540.3	$ 1,509.0