Unitil falls after unveiling planned $65 mln stock sale

Unitil

14/08/2025 21:34

** Unitil Corp's UTL.N shares down 4.8% to $46.76 on thin post-market volume as utility looks to raise equity

    ** New Hampshire-based electricity and natural gas provider announces $65 mln stock offering

** It intends to use net offering proceeds to make equity capital contributions to its regulated utility subsidiaries, repay indebtedness, and for general corporate purposes

** Wells Fargo and Scotia Capital are active bookrunners for the offering, joined by Janney Montgomery as bookrunner

** UTL has ~16.29 mln shares outstanding for about $800 mln market cap

** Shares, which went x-dividend on Thurs, closed down 1.6% at $49.12, down ~9% YTD

** Both analysts covering UTL are bullish with PTs of $56 and $63, LSEG data shows

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))