Essential Utilities Inc. (NYSE:WTRG) Raises Dividend to $0.34 Per Share

Key Points

• Essential Utilities Inc. has announced a quarterly dividend increase, raising it to $0.3426 per share, which translates to an annualized dividend of $1.37 and a yield of 3.71%. This is a 5.3% increase from the previous dividend of $0.33 per share.
• The company's earnings report revealed a strong performance with earnings per share of $1.03, surpassing analysts' expectations, alongside a significant revenue increase of 28.0% year-over-year.
• Analysts have adjusted their ratings on the stock, with one upgrading it from "sell" to "hold" and others maintaining a "Moderate Buy" consensus, reflecting positive outlooks on the company’s future performance.

Essential Utilities Inc. (NYSE:WTRG - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Shareholders of record on Tuesday, August 12th will be paid a dividend of 0.3426 per share on Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, August 12th. This is a 5.3% increase from Essential Utilities's previous quarterly dividend of $0.33.

Essential Utilities has a payout ratio of 58.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Essential Utilities to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 61.0%.

Essential Utilities Stock Up 3.7%

NYSE:WTRG traded up $1.36 on Friday, hitting $38.16. The stock had a trading volume of 932,168 shares, compared to its average volume of 1,685,709. The business's fifty day moving average is $37.58 and its 200 day moving average is $37.87. The company has a market cap of $10.70 billion, a PE ratio of 17.11, a P/E/G ratio of 3.39 and a beta of 0.79. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Essential Utilities has a 52 week low of $33.18 and a 52 week high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.09. The business had revenue of $514.91 million for the quarter, compared to analyst estimates of $462.70 million. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The company's quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, equities research analysts expect that Essential Utilities will post 1.99 EPS for the current fiscal year.

About Essential Utilities

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.