Unitil (UTL)
Market Price (12/28/2025): $48.88 | Market Cap: $831.0 MilSector: Utilities | Industry: Electric Utilities
Unitil (UTL)
Market Price (12/28/2025): $48.88Market Cap: $831.0 MilSector: UtilitiesIndustry: Electric Utilities
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.3%, Dividend Yield is 2.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.1% | Weak multi-year price returns2Y Excs Rtn is -45%, 3Y Excs Rtn is -74% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 94% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.9% | |
| Low stock price volatilityVol 12M is 22% | Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.9% | |
| Megatrend and thematic driversMegatrends include Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Smart Metering, Grid Automation, Show more. | Key risksUTL key risks include [1] the potential need for substantial cash contributions to its pension obligations and [2] shareholder dilution from issuing new shares to support capital needs. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.3%, Dividend Yield is 2.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.1% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27% |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Smart Metering, Grid Automation, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -45%, 3Y Excs Rtn is -74% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 94% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.9% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.9% |
| Key risksUTL key risks include [1] the potential need for substantial cash contributions to its pension obligations and [2] shareholder dilution from issuing new shares to support capital needs. |
Why The Stock Moved
Qualitative Assessment
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<b>1. Strong Q3 2025 Financial Performance and Outlook:</b> Unitil Corporation reported third-quarter 2025 revenue that exceeded forecasts by 5.05%, with earnings per share meeting expectations. The company also reaffirmed its long-term guidance for earnings, dividend, and rate base growth.
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<b>2. Strategic Acquisition Completion:</b> The company completed its acquisition of Maine Natural Gas Company on October 31, 2025. This strategic move is anticipated to expand Unitil's customer base and distribution network, with long-term benefits expected to be accretive to earnings, although initially earnings-neutral.
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<b>3. Consistent Dividend Policy:</b> Unitil declared a common stock dividend of $0.45 per share in October 2025, with an ex-dividend date in November 2025. This follows a previously announced increase in the annual dividend for 2025 to $1.80 per share, reflecting a 5.9% increase from 2024 and consistent shareholder returns.
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<b>4. Favorable Regulatory Environment and Rate Cases:</b> Unitil has been actively involved in regulatory proceedings, including a base rate case for its New Hampshire electric utility proposing an $18.5 million permanent rate increase, with temporary rates taking effect in July 2025. Regulatory approvals and ongoing rate adjustments are key to the company's revenue and cost recovery.
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<b>5. Broader Utilities Sector Tailwinds:</b> The wider utilities sector in 2024 saw increased demand driven by advancements in artificial intelligence and the push for electrification, which could offer significant growth opportunities. This context of growing energy demand and strategic positioning in a vital sector influences investor sentiment towards utility companies like Unitil.
Show moreStock Movement Drivers
Fundamental Drivers
The 5.0% change in UTL stock from 9/27/2025 to 12/27/2025 was primarily driven by a 10.9% change in the company's P/E Multiple.| 9272025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 46.53 | 48.85 | 4.98% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 493.80 | 502.00 | 1.66% |
| Net Income Margin (%) | 9.54% | 9.32% | -2.26% |
| P/E Multiple | 16.00 | 17.74 | 10.87% |
| Shares Outstanding (Mil) | 16.20 | 17.00 | -4.94% |
| Cumulative Contribution | 4.73% |
Market Drivers
9/27/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| UTL | 5.0% | |
| Market (SPY) | 4.3% | 1.1% |
| Sector (XLU) | -1.4% | 29.0% |
Fundamental Drivers
The -5.0% change in UTL stock from 6/28/2025 to 12/27/2025 was primarily driven by a -4.9% change in the company's Shares Outstanding (Mil).| 6282025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 51.45 | 48.85 | -5.05% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 486.90 | 502.00 | 3.10% |
| Net Income Margin (%) | 9.74% | 9.32% | -4.24% |
| P/E Multiple | 17.58 | 17.74 | 0.92% |
| Shares Outstanding (Mil) | 16.20 | 17.00 | -4.94% |
| Cumulative Contribution | -5.28% |
Market Drivers
6/28/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| UTL | -5.0% | |
| Market (SPY) | 12.6% | 17.4% |
| Sector (XLU) | 5.9% | 41.9% |
Fundamental Drivers
The -5.9% change in UTL stock from 12/27/2024 to 12/27/2025 was primarily driven by a -5.6% change in the company's Shares Outstanding (Mil).| 12272024 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 51.92 | 48.85 | -5.92% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 496.90 | 502.00 | 1.03% |
| Net Income Margin (%) | 9.46% | 9.32% | -1.44% |
| P/E Multiple | 17.79 | 17.74 | -0.23% |
| Shares Outstanding (Mil) | 16.10 | 17.00 | -5.59% |
| Cumulative Contribution | -6.21% |
Market Drivers
12/27/2024 to 12/27/2025| Return | Correlation | |
|---|---|---|
| UTL | -5.9% | |
| Market (SPY) | 17.0% | 10.2% |
| Sector (XLU) | 14.8% | 52.3% |
Fundamental Drivers
The 4.9% change in UTL stock from 12/28/2022 to 12/27/2025 was primarily driven by a 21.9% change in the company's Net Income Margin (%).| 12282022 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 46.58 | 48.85 | 4.87% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 541.50 | 502.00 | -7.29% |
| Net Income Margin (%) | 7.65% | 9.32% | 21.94% |
| P/E Multiple | 18.00 | 17.74 | -1.44% |
| Shares Outstanding (Mil) | 16.00 | 17.00 | -6.25% |
| Cumulative Contribution | 4.46% |
Market Drivers
12/28/2023 to 12/27/2025| Return | Correlation | |
|---|---|---|
| UTL | -1.0% | |
| Market (SPY) | 48.0% | 16.5% |
| Sector (XLU) | 42.1% | 50.7% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| UTL Return | -26% | 7% | 16% | 6% | 6% | -7% | -4% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| UTL Win Rate | 17% | 42% | 58% | 58% | 50% | 50% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| UTL Max Drawdown | -46% | -11% | -3% | -16% | -10% | -15% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | UTL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -29.3% | -25.4% |
| % Gain to Breakeven | 41.5% | 34.1% |
| Time to Breakeven | 297 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.3% | -33.9% |
| % Gain to Breakeven | 97.1% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -19.5% | -19.8% |
| % Gain to Breakeven | 24.3% | 24.7% |
| Time to Breakeven | 150 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -43.5% | -56.8% |
| % Gain to Breakeven | 77.0% | 131.3% |
| Time to Breakeven | 1,692 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Unitil's stock fell -29.3% during the 2022 Inflation Shock from a high on 4/6/2023. A -29.3% loss requires a 41.5% gain to breakeven.
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AI Analysis | Feedback
Here are 1-3 brief analogies for Unitil (UTL):
- Like a regional version of Duke Energy or Consolidated Edison, providing electricity and natural gas in New England.
- Like your local water company, but for delivering electricity and natural gas.
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- Electric Distribution: Unitil provides electric utility services, distributing electricity to residential, commercial, and industrial customers across its service territories.
- Natural Gas Distribution: Unitil offers natural gas utility services, delivering natural gas to residential, commercial, and industrial customers within its service areas.
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Unitil (UTL) is a public utility company that primarily sells electricity and natural gas to individuals and businesses within its regulated service territories in Maine, New Hampshire, and Massachusetts. As a utility, it does not have "major customers" in the traditional sense of a few large corporate entities accounting for a significant portion of its revenue. Instead, its customer base is diversified across thousands of accounts.
The company sells primarily to individuals and businesses, and its customer base is typically divided into the following three categories:
- Residential Customers: This category includes individual households, homeowners, and tenants who use electricity and natural gas for their domestic needs, such as heating, cooling, lighting, and powering household appliances.
- Commercial Customers: This segment comprises a wide range of businesses and organizations, including retail stores, offices, restaurants, small and medium-sized enterprises, government buildings, and other non-industrial establishments that consume energy for their operational needs.
- Industrial Customers: These are typically larger businesses or manufacturing facilities that require substantial amounts of electricity and natural gas to power their machinery, production processes, and large-scale operations.
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Thomas P. Meissner, Jr. Chairman of the Board & Chief Executive Officer
Thomas P. Meissner, Jr. was appointed CEO in April 2018. He joined Unitil in 1994, serving as Senior Vice President and Chief Operating Officer from 2005 to 2018, and Director of Engineering from 1998 to 2003. Before Unitil, he held roles including Electrical Superintendent and various engineering and operations positions at Public Service of New Hampshire from 1985 to 1994. He holds degrees in Electrical and Mechanical Engineering from Northeastern University and an MBA from the University of New Hampshire. He is also a registered professional engineer in New Hampshire and a Director of the Northeast Gas Association.
Daniel J. Hurstak Senior Vice President, Chief Financial Officer & Treasurer
Daniel J. Hurstak assumed the role of Senior Vice President, Chief Financial Officer & Treasurer effective May 1, 2023. He joined Unitil in 2020, initially serving as the Company's Chief Accounting Officer and Controller. Prior to Unitil, Mr. Hurstak was Vice President, Corporate Accounting at Fidelity Investments from June 2016 to February 2020. He also worked as a senior manager at PricewaterhouseCoopers LLP from 2009 to 2016, where he began his career in 2001. He is a Certified Public Accountant in Massachusetts.
Robert B. Hevert President & Chief Administrative Officer
Robert B. Hevert was appointed to the newly created position of President & Chief Administrative Officer effective May 1, 2023. He joined Unitil in 2020 as Senior Vice President, Chief Financial Officer and Treasurer, a position he held until May 2023. With over 30 years of experience in the energy industry, Mr. Hevert previously served as Partner and Practice Area Leader at ScottMadden, Inc. from 2016. He founded and was Managing Partner of Sussex Economic Advisors, LLC from 2012 until its acquisition by ScottMadden in June 2016. Additionally, he was President of Concentric Energy Advisors, Inc. from 2002 to 2012. His background also includes senior positions at Navigant Consulting, Inc. and Vice President and Assistant Treasurer at Bay State Gas Company. He is a CFA® Charterholder.
Todd R. Diggins Chief Accounting Officer and Controller
Todd R. Diggins assumed the role of Chief Accounting Officer and Controller effective May 1, 2023. He previously served as the Director of Finance since July 2018 and Treasurer of Unitil's subsidiary companies since April 2020. Mr. Diggins joined Unitil in May 1998 and has held various accounting roles within the company, including corporate accounting manager and senior accountant.
Kat Bourque Senior Vice President, External Affairs & Chief Customer Officer
Kat Bourque serves as the Senior Vice President, External Affairs & Chief Customer Officer. Prior to her current role, she was Unitil's Vice President of External Affairs & Corporate Relations and Director of Government Affairs. She is a member of the NH Bar and possesses extensive experience in energy policy, legislative processes, and public affairs.
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Unitil (UTL) faces several key risks inherent to its operations as a public utility company. The most significant risks include: 1.Regulatory and Environmental Risks
Unitil operates in a heavily regulated environment, meaning changes in regulations can significantly impact its rates, authorized rate of return, and ability to recover costs. A particularly prominent aspect of this risk involves evolving environmental regulations, especially those related to climate change and greenhouse gas emissions, which could lead to increased compliance costs and affect financial performance. 2.Operational and Infrastructure Risks
As a distributor of electricity and natural gas, Unitil is exposed to substantial operational risks. These include potential disruptions in natural gas pipeline transmission and storage capacity, which could impair its ability to meet customer demands. The company also faces risks associated with aging infrastructure and the inherent hazards of electric and natural gas distribution, which can lead to accidents, environmental pollution, and operational impairments. Furthermore, severe weather events and catastrophic incidents pose significant threats to its infrastructure and ability to maintain service. 3.Financial and Capital Market Risks
Unitil faces financial risks related to its ability to obtain financing on acceptable terms, which can affect its overall financial condition. Fluctuations in interest rates can adversely impact financial results, particularly given its reliance on debt for capital projects. Declines in capital market valuations could also necessitate substantial cash contributions to pension and post-retirement benefit obligations. Additionally, the company has experienced shareholder dilution from issuing new shares to support capital needs and de-risk its balance sheet.AI Analysis | Feedback
Proliferation of Distributed Energy Resources (DERs)
The increasing adoption of rooftop solar, community solar, battery storage, and other localized generation and storage solutions directly threatens Unitil's traditional revenue model. As customers generate more of their own power, demand for grid-supplied electricity from Unitil decreases, impacting sales volumes and the efficient utilization of existing infrastructure. This trend is driven by declining technology costs and strong state-level incentives and policies in Unitil's service territories (New Hampshire, Massachusetts, and Maine) that encourage DER deployment, thereby reducing reliance on the central utility grid.
Decarbonization Policies and the Future of Natural Gas
Growing regulatory pressure, state mandates, and environmental initiatives aimed at reducing carbon emissions pose a significant emerging threat to Unitil's natural gas distribution business. Policies in Unitil's operating states are increasingly focused on transitioning away from fossil fuels for heating and power, promoting electrification (e.g., heat pumps), and potentially restricting new natural gas infrastructure or even mandating phase-outs. This trend directly challenges the long-term growth and viability of a core segment of Unitil's operations.
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Unitil Corporation (UTL) primarily operates in the regulated utility sector, distributing electricity and natural gas. Its services are concentrated in specific regions of New Hampshire, Massachusetts, and Maine.
As of recent reports (late 2024 to late 2025 due to acquisitions), Unitil serves approximately 109,400 electric customers and 103,900 natural gas customers across these three states.
Addressable Markets:
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Natural Gas Distribution:
- New Hampshire: There are approximately 130,000 natural gas customers in New Hampshire. Unitil, through its subsidiary Northern Utilities, serves about 35,000 gas customers in 25 communities in the seacoast area of the state.
- Maine: With the acquisition of Maine Natural Gas Company (finalized October 31, 2025), Unitil now serves approximately 41,000 natural gas customers across Maine, with Maine Natural Gas serving about 6,300 residential and commercial natural gas customers in nine Greater Portland communities and Augusta.
- Massachusetts: Unitil provides natural gas service to specific regions in Massachusetts, including towns like Ashby, Fitchburg, Gardner, Lunenburg, Townsend, West Townsend, and Westminster.
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Electricity Distribution:
- New Hampshire: Unitil provides electric service in the southeastern seacoast and state capital regions of New Hampshire.
- Massachusetts: Unitil distributes electricity in the greater Fitchburg area of north central Massachusetts, including Ashby, Fitchburg, Leominster, Lunenburg, Shirley, Townsend, and West Townsend.
- Maine: While Unitil distributes natural gas in Maine, its primary electric distribution services are in New Hampshire and Massachusetts.
Due to the nature of regulated utility markets, where companies operate in defined service territories, a precise "addressable market size" in a consolidated dollar value for the entire states of New Hampshire, Massachusetts, and Maine for electricity and natural gas distribution for all providers is not readily available as a single metric. The market is defined by the number of customers and the revenue generated within each utility's approved service territory. Unitil's revenues from electricity activities were approximately $307.1 million in 2023. In 2013, gas operations generated $170.4 million and electricity operations generated $190.7 million.
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Expected Drivers of Future Revenue Growth for Unitil (UTL)
Over the next 2-3 years, Unitil (UTL) is expected to drive future revenue growth through several key initiatives and operational factors: * Rate Increases: Unitil consistently benefits from approved rate increases in its service territories for both electric and natural gas distribution. Recent earnings reports highlight "higher rates" and "distribution rates" as significant contributors to increased gross margins. For instance, in the third quarter of 2025, higher rates and customer growth drove increases in both electric and gas adjusted gross margins. Rate cases filed with state public utilities commissions, such as the New Hampshire electric distribution rate case in May 2025 for an $18.5 million permanent increase, are a continuous mechanism for revenue adjustment and growth. * Customer Growth: The expansion of Unitil's customer base in its existing electric and natural gas service areas across New Hampshire, Massachusetts, and Maine is a consistent driver of revenue. The company reported adding approximately 560 new electric customers and 9,400 new gas customers in the first nine months of 2025, with strong economic growth in its service territories contributing to this trend. * Strategic Acquisitions: Unitil has actively pursued and completed strategic acquisitions that expand its customer base and market presence. The acquisitions of Bangor Natural Gas Company (January 2025) and Maine Natural Gas Company (October 2025) significantly added to Unitil's natural gas customer count and infrastructure. These acquisitions are anticipated to be earnings-accretive once new distribution rates take effect and are a key part of the company's growth strategy, including planned acquisitions of Aquarion Water companies. * Infrastructure Investments and Rate Base Growth: Unitil plans substantial capital investments in its utility infrastructure, totaling approximately $980 million from 2025-2029. These investments are projected to drive rate base growth in the range of 6.5% to 8.5% annually, supporting long-term earnings growth. Such investments include modernizing the electric grid, enhancing system reliability, and supporting electric vehicle infrastructure development. * Natural Gas Expansion Programs: Beyond acquisitions, Unitil is undertaking targeted expansion programs, such as the pilot "Targeted Area Buildout" (TAB) program in Saco, Maine. This initiative aims to reduce upfront conversion costs for new natural gas customers, thereby encouraging greater adoption and expanding the natural gas customer base in underserved areas. Unitil sees this as a model for potential similar expansions across the state.AI Analysis | Feedback
Share Issuance
- In August 2025, Unitil announced a registered offering of $65 million of common stock, with an option for underwriters to purchase an additional $9.75 million in shares.
- The proceeds from the 2025 stock offering are intended for equity capital contributions to regulated utility subsidiaries, repayment of outstanding debt, and general corporate purposes.
Outbound Investments
- Unitil completed the acquisition of Bangor Natural Gas Company on January 31, 2025, for $70.9 million, plus $0.3 million for working capital.
- The company expects to close acquisitions of Maine Natural Gas (MNG) and Aquarion Water Companies (MA & NH) by the end of 2025.
- The acquisition of Aquarion Water Companies is valued at $100 million, including $30 million in assumed debt, and marks Unitil's first entry into water distribution.
Capital Expenditures
- Capital expenditures for 2024 amounted to $169.9 million, primarily for utility system additions.
- Unitil plans to invest approximately $176 million in capital projects in 2025.
- The company has a projected 5-year investment plan through 2029 totaling approximately $980 million, focusing on electric system modernization, infrastructure replacement, customer growth, and the clean energy transition, which is expected to grow the rate base by 6.5% to 8.5%.
Latest Trefis Analyses
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | PEG | Public Service Enterprise | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.3% | -0.3% | -2.4% |
| 09262025 | PCG | PG&E | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.5% | 5.5% | -0.8% |
| 09052025 | AES | AES | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 10.2% | 10.2% | -3.2% |
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Peer Comparisons for Unitil
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 63.50 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 9.0% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 18.3% |
| Op Mgn 3Y Avg | 16.8% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 22.2% |
| CFO/Rev 3Y Avg | 22.2% |
| FCF/Rev LTM | 11.6% |
| FCF/Rev 3Y Avg | 12.1% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Electric | 306 | 298 | 248 | 227 | 234 |
| Gas | 251 | 265 | 225 | 191 | 203 |
| Other | 0 | 0 | |||
| Non-Regulated | 0 | 1 | |||
| Total | 557 | 563 | 473 | 419 | 438 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Gas | 29 | 26 | 23 | 19 | 19 |
| Electric | 18 | 16 | 14 | 13 | 12 |
| Other | -2 | -1 | -1 | 0 | 3 |
| Non-Regulated | 0 | 10 | |||
| Total | 45 | 41 | 36 | 32 | 44 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Gas | 1,032 | 989 | 936 | 886 | 823 |
| Electric | 613 | 581 | 584 | 572 | 529 |
| Other | 26 | 21 | 20 | 20 | 18 |
| Non-Regulated | 0 | 0 | |||
| Total | 1,670 | 1,590 | 1,540 | 1,478 | 1,371 |
Price Behavior
| Market Price | $48.85 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -16.0% | |
| 50 Days | 200 Days | |
| DMA Price | $48.74 | $50.53 |
| DMA Trend | down | up |
| Distance from DMA | 0.2% | -3.3% |
| 3M | 1YR | |
| Volatility | 19.4% | 22.2% |
| Downside Capture | -34.73 | 24.49 |
| Upside Capture | -4.17 | 14.54 |
| Correlation (SPY) | 3.1% | 10.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.07 | 0.10 | 0.21 | 0.48 | 0.15 | 0.34 |
| Up Beta | -0.04 | 0.41 | 0.60 | 0.88 | 0.10 | 0.35 |
| Down Beta | 0.35 | 0.26 | 0.09 | -0.13 | 0.07 | 0.14 |
| Up Capture | 36% | 18% | 32% | 33% | 10% | 13% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 10 | 20 | 34 | 62 | 126 | 374 |
| Down Capture | -12% | -23% | -2% | 87% | 46% | 75% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 9 | 20 | 27 | 62 | 120 | 369 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of UTL With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| UTL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -5.9% | 15.2% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 22.1% | 15.9% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | -0.36 | 0.70 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 52.3% | 10.7% | 14.6% | -8.4% | 44.4% | -3.5% | |
ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of UTL With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| UTL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 6.1% | 9.7% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 26.2% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.23 | 0.43 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 53.7% | 24.0% | 11.9% | 8.9% | 41.1% | 8.5% | |
ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of UTL With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| UTL | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 6.8% | 10.5% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 27.3% | 19.2% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.28 | 0.48 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 66.6% | 39.6% | 10.5% | 11.4% | 54.2% | 9.1% | |
ETFs used for asset classes: Sector ETF = XLU, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11032025 | 10-Q 9/30/2025 |
| 6302025 | 8042025 | 10-Q 6/30/2025 |
| 3312025 | 5062025 | 10-Q 3/31/2025 |
| 12312024 | 2102025 | 10-K 12/31/2024 |
| 9302024 | 11042024 | 10-Q 9/30/2024 |
| 6302024 | 8062024 | 10-Q 6/30/2024 |
| 3312024 | 5072024 | 10-Q 3/31/2024 |
| 12312023 | 2132024 | 10-K 12/31/2023 |
| 9302023 | 11072023 | 10-Q 9/30/2023 |
| 6302023 | 8012023 | 10-Q 6/30/2023 |
| 3312023 | 5022023 | 10-Q 3/31/2023 |
| 12312022 | 2142023 | 10-K 12/31/2022 |
| 9302022 | 11012022 | 10-Q 9/30/2022 |
| 6302022 | 8022022 | 10-Q 6/30/2022 |
| 3312022 | 5032022 | 10-Q 3/31/2022 |
| 12312021 | 2012022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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