Unitil Completes $86 Million Acquisition of Maine Natural Gas Amid Earnings Beat and Institutional Investment

Unitil has completed the acquisition of Maine Natural Gas for $86.0 million, adding approximately 6,300 customers and 230 miles of pipeline in New England. Institutional investors control about 76.76% of Unitil's shares, with Frontier Capital Management increasing its stake by 38.9% to 360,894 shares valued at $18.82 million.

For Q3, Unitil reported earnings per share (EPS) of $0.03, exceeding estimates by $0.06, with quarterly revenue reaching $101.10 million. The company announced a quarterly dividend of $0.45 per share on November 28, yielding approximately 3.7%.

Analysts project a full-year EPS of $3.08 and set an average price target of $55.00, suggesting a potential upside of 12.2% from the recent share price of $49.00. The company's future performance will depend on margin stability, earnings growth, and the successful integration of Maine Natural Gas assets.