Quantbot Technologies LP Invests $337,000 in Essential Utilities Inc. $WTRG

Key Points

• Quantbot Technologies LP acquired 8,513 shares of Essential Utilities Inc. for approximately $337,000, marking their new position in the company during the first quarter.
• Research analysts have raised the price target for Essential Utilities, with Robert W. Baird and UBS Group now setting it at $47.00, leading to a consensus rating of "Moderate Buy".
• Essential Utilities announced a quarterly dividend increase to $0.3426 per share, representing an annual dividend yield of 3.5%, with the ex-dividend date on August 12th.

Quantbot Technologies LP acquired a new position in Essential Utilities Inc. (NYSE:WTRG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,513 shares of the company's stock, valued at approximately $337,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Essential Utilities in the first quarter worth approximately $1,507,000. Wealthcare Advisory Partners LLC grew its stake in Essential Utilities by 8.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock worth $998,000 after purchasing an additional 1,867 shares during the period. Oppenheimer & Co. Inc. grew its stake in Essential Utilities by 14.2% during the first quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock worth $386,000 after purchasing an additional 1,218 shares during the period. Brighton Jones LLC acquired a new stake in Essential Utilities during the fourth quarter worth approximately $638,000. Finally, Envestnet Asset Management Inc. grew its stake in Essential Utilities by 3.9% during the first quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company's stock worth $4,239,000 after purchasing an additional 4,015 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

WTRG stock traded down $0.12 during midday trading on Monday, hitting $39.55. The company's stock had a trading volume of 2,721,209 shares, compared to its average volume of 2,087,314. The stock's 50-day moving average price is $38.00 and its 200 day moving average price is $38.52. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a 1 year low of $33.18 and a 1 year high of $41.65. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 3.63 and a beta of 0.83.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.38 earnings per share 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 analysts' expectations of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.The business's revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, equities analysts forecast that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a $0.3426 dividend. The ex-dividend date is Tuesday, August 12th. This is a positive change from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 dividend on an annualized basis and a yield of 3.5%. Essential Utilities's dividend payout ratio is presently 58.80%.

Wall Street Analyst Weigh In

Several research firms recently commented on WTRG. Zacks Research cut Essential Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. 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 note on Monday, August 4th. UBS Group raised their target price on Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Finally, Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Essential Utilities currently has an average rating of "Moderate Buy" and a consensus target price of $44.50.

Essential Utilities 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.