155,292 Shares in Essential Utilities Inc. (NYSE:WTRG) Bought by Wills Financial Group LLC

Key Points

• Wills Financial Group LLC acquired 155,292 shares of Essential Utilities Inc. (NYSE: WTRG), valued at approximately $6.14 million, now making it 14th in their holdings.
• Essential Utilities recently reported better-than-expected earnings of $0.38 per share, surpassing analysts' estimates by $0.09, with revenue of $514.91 million for the quarter.
• The company declared a quarterly dividend of $0.3426 per share, reflecting a 3.6% dividend yield and a positive increase from its previous dividend.

Wills Financial Group LLC purchased a new stake in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 155,292 shares of the company's stock, valued at approximately $6,139,000. Essential Utilities makes up about 2.7% of Wills Financial Group LLC's portfolio, making the stock its 14th largest holding. Wills Financial Group LLC owned approximately 0.06% of Essential Utilities as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Valley National Advisers Inc. bought a new position in Essential Utilities in the first quarter valued at about $33,000. American National Bank & Trust bought a new position in shares of Essential Utilities in the 1st quarter worth approximately $35,000. Orion Capital Management LLC bought a new position in shares of Essential Utilities in the 4th quarter worth approximately $41,000. CX Institutional purchased a new position in shares of Essential Utilities in the first quarter worth approximately $42,000. Finally, Siemens Fonds Invest GmbH bought a new stake in Essential Utilities during the fourth quarter valued at approximately $49,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Price Performance

WTRG stock traded down $0.41 during mid-day trading on Tuesday, hitting $37.93. The company had a trading volume of 2,179,196 shares, compared to its average volume of 1,784,429. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 3.52 and a beta of 0.78. The company has a 50-day moving average price of $37.56 and a 200 day moving average price of $37.97. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.65.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The business had revenue of $514.91 million for the quarter, compared to the consensus estimate of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%. The company's revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. On average, research analysts anticipate that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.3426 dividend. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 12th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.6%. Essential Utilities's payout ratio is presently 55.79%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WTRG shares. Wall Street Zen upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Robert W. Baird lifted their price objective on Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Essential Utilities presently has an average rating of "Moderate Buy" and an average target price of $43.67.

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.