Unitil ( (UTL) ) has issued an update.
On March 31, 2025, Unitil Corporation announced a definitive agreement to acquire Maine Natural Gas Company from Avangrid Enterprises, Inc. for $86 million, with the transaction expected to close by the end of 2025. Maine Natural Gas, serving about 6,300 customers in Maine, will become a wholly owned subsidiary of Unitil, pending regulatory approval. This acquisition aligns with Unitil’s strategy to expand its service area in Maine, enhancing its market position by covering over 40% of Maine’s population and is expected to be earnings accretive, supporting long-term growth.
More about Unitil
Unitil Corporation is a public utility holding company that provides electricity and natural gas services in New England, specifically in Maine, New Hampshire, and Massachusetts. The company is committed to delivering dependable and efficient energy, serving approximately 109,400 electric customers and 97,600 natural gas customers, including its recent acquisition of Bangor Natural Gas Company.
YTD Price Performance: 8.61%
Average Trading Volume: 62,062
Technical Sentiment Signal: Strong Sell
Current Market Cap: $948.6M
See more data about UTL stock on TipRanks’ Stock Analysis page.