2024-02-21 11:35:36 ET
Summary
- Unitil Corporation delivered better than expected EPS GAAP figures and expects long-term rate base growth of 6.5%-8.5%.
- The company has experienced revenue growth in almost all of its segments and has a strong dividend growth track record.
- Recent acquisitions, approved restructuring plans, and successful debt agreements could drive demand for the stock.
Unitil Corporation (UTL) recently delivered better than expected EPS GAAP figures, and announced expectations about long-term rate base growth of about 6.5%-8.5%. In addition, new acquisition of rights in clean energy projects, approved restructuring plans, and successful negotiation of debt agreements like the recent Notes due July 2, 2033 could bring demand for the stock. Even considering risks from new regulations or unionized workers, I believe that UTL appears quite cheap.
Unitil: Revenue Growth, And Beneficial Guidance
Unitil is specialized in the local distribution of electricity and natural gas. Its primary focus spans territories in New Hampshire, Massachusetts, and Maine, serving approximately 196,900 customers. Subsidiaries, such as Unitil Energy, Fitchburg, and Northern Utilities, provide electric and gas services in various regions. Additionally, as the parent company of the Granite State, it facilitates the transmission of natural gas to Northern Utilities. In total, these companies provide essential services to approximately 108,500 electricity customers and 88,400 natural gas customers. ...
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Unitil: Strong Dividend Growth And Clean Energy Projects Make It Attractive