Essential Utilities Inc. $WTRG Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. reduced its holdings in Essential Utilities Inc. (NYSE:WTRG) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,858 shares of the company’s stock after selling 568 shares during the quarter. Phoenix Financial Ltd.’s holdings in Essential Utilities were worth $292,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WTRG. Maple Brown Abbott Ltd acquired a new stake in Essential Utilities in the 1st quarter valued at approximately $94,251,000. Nuveen LLC acquired a new position in shares of Essential Utilities in the 1st quarter worth $25,526,000. Goldman Sachs Group Inc. grew its holdings in shares of Essential Utilities by 122.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 943,797 shares of the company’s stock worth $37,308,000 after acquiring an additional 519,933 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Essential Utilities by 1,924.2% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 285,309 shares of the company’s stock valued at $11,278,000 after purchasing an additional 271,214 shares during the period. Finally, Wills Financial Group LLC acquired a new stake in shares of Essential Utilities in the first quarter worth $6,139,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $41.65 on Thursday. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $42.37. The business has a 50-day moving average of $39.20 and a two-hundred day moving average of $38.69. The stock has a market capitalization of $11.68 billion, a P/E ratio of 17.87, a P/E/G ratio of 4.34 and a beta of 0.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.The company had revenue of $514.91 million during the quarter, compared to analysts’ expectations of $462.70 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, equities research analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.3426 dividend. The ex-dividend date was Tuesday, August 12th. This is a boost from Essential Utilities’s previous quarterly dividend of $0.33. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.3%. Essential Utilities’s dividend payout ratio is presently 58.80%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WTRG. Robert W. Baird raised their target price on Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Wall Street Zen raised Essential Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Jefferies Financial Group lifted their price objective on Essential Utilities from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, October 10th. UBS Group lifted their price objective on Essential Utilities from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Finally, Barclays lifted their price objective on Essential Utilities from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.17.

Essential Utilities Company Profile

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.