Quantbot Technologies LP acquired a new position in Essential Utilities Inc. (NYSE:WTRG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,513 shares of the company's stock, valued at approximately $337,000.
Other hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Essential Utilities in the first quarter worth approximately $31,000. Valley National Advisers Inc. purchased a new position in Essential Utilities in the first quarter worth approximately $33,000. American National Bank & Trust purchased a new position in Essential Utilities in the first quarter worth approximately $35,000. National Pension Service grew its position in Essential Utilities by 75.0% in the first quarter. National Pension Service now owns 950 shares of the company's stock worth $38,000 after acquiring an additional 407 shares during the period. Finally, Orion Capital Management LLC purchased a new position in Essential Utilities in the fourth quarter worth approximately $41,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on WTRG shares. Robert W. Baird raised their price target on Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. UBS Group raised their price target on Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Finally, Wall Street Zen lowered Essential Utilities from a "hold" rating to a "sell" rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.50.
Read Our Latest Stock Analysis on WTRG
Essential Utilities Stock Up 0.0%
Shares of NYSE WTRG opened at $39.10 on Wednesday. The stock has a market cap of $10.96 billion, a P/E ratio of 16.78, a PEG ratio of 3.59 and a beta of 0.78. The company has a current ratio of 0.73, a quick ratio of 0.58 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. The business's fifty day simple moving average is $37.83 and its 200-day simple moving average is $38.38.
Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.09. The business had revenue of $514.91 million for the quarter, compared to analysts' expectations 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 for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. As a group, equities analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.
Essential Utilities Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a $0.3426 dividend. The ex-dividend date is Tuesday, August 12th. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a dividend yield of 3.5%. Essential Utilities's payout ratio is 58.80%.
About Essential Utilities
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding WTRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essential Utilities Inc. (NYSE:WTRG - Free Report).
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