) reported fourth-quarter 2013 earnings of 75 cents per share,
surpassing the Zacks Consensus Estimate by 9 cents. Quarterly
earnings jumped 13.6% year over year on the heels of higher
natural gas and electricity sales margins. The positives were
partially offset by increased utility operating costs.
AMER ELEC PWR (AEP): Free Stock Analysis
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UNITIL CORP (UTL): Free Stock Analysis Report
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For 2013, Unitil reported earnings of $1.57 per share compared
with $1.43 per share in 2012.
In the fourth quarter, Unitil Corporation posted total operating
revenues of $109.8 million, missing the Zacks Consensus Estimate
by $0.2 million. Quarterly revenues however climbed 11.1% year
over year due to a 13.2% rise in the company's Electric segment
sales and a 9.7% rise in the company's Gas segment revenues.
Unitil Corporation's Other segment reported flat revenues year
In 2013, operating revenue was $366.9 million, up almost 4.0%
year over year.
Operation and maintenance expenses increased 0.3% and
depreciation, amortization, taxes & other expenses climbed
1.5% in the quarter year over year.
Total electricity sales volume was up 0.1% year over year to
387.1 million kilowatt-hours due to a rise in residential
consumption, partly offset by a fall in commercial consumption.
Total gas sales volume increased 11.2% to 53.7 million therm from
48.3 million therm a year ago. The improvement in sales was
primarily driven by a rise in commercial/industrial gas sales and
a higher customer count.
Unitil Corporation's cash and cash equivalents as of Dec 31,
2013, were $9.4 million versus $9.8 million as of Dec 31, 2012.
Long-term debt (less current portion) as of Dec 31, 2013, was
$284.8 million compared with $287.3 million as of Dec 31, 2012.
During 2013, cash provided by operating activities was $96.3
million versus $66.7 million in the previous year.
The company invested $89.5 million during 2013 under its capital
At the earnings call, Unitil Corporation announced that it will
pay a regular quarterly dividend of 34.5 cents per share on the
company's common stock. On an annualized basis, the dividend rate
stands at $1.38 per share.
American Electric Power Company Inc.
) reported fourth-quarter 2013 operating earnings of 60 cents per
share, beating the Zacks Consensus Estimate of 56 cents by 7.1%.
The quarterly figure also improved 20% from the year-ago profit
of 50 cents.
Unitil Corporation currently has a Zacks Rank #4 (Sell). However,
other stocks from the industry that are worth considering include
NRG Yield, Inc.
National Grid plc
), each with a Zacks Rank #1 (Strong Buy).