ASR Vermogensbeheer N.V. Buys 63,274 Shares of Essential Utilities Inc. $WTRG

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Essential Utilities Inc. by 378.6% during the 2nd quarter, acquiring an additional 63,274 shares, bringing its total holdings to 79,987 shares valued at approximately $2.97 million.
• Essential Utilities announced a quarterly dividend increase to $0.3426 per share, up from $0.33, signifying a 3.5% dividend yield with a payout ratio of 58.80%.
• The stock saw a 2.1% gain, trading at $39.39, with an average target price of $44.00 among analysts amid varied ratings, including upgrades and downgrades.

ASR Vermogensbeheer N.V. grew its stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 378.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,987 shares of the company's stock after acquiring an additional 63,274 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Essential Utilities were worth $2,971,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WTRG. Teacher Retirement System of Texas bought a new position in shares of Essential Utilities during the first quarter valued at $1,507,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of Essential Utilities by 8.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock valued at $998,000 after purchasing an additional 1,867 shares in the last quarter. Brighton Jones LLC bought a new position in shares of Essential Utilities during the fourth quarter valued at $638,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Essential Utilities by 14.2% during the first quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock valued at $386,000 after purchasing an additional 1,218 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Essential Utilities by 3.9% during the first quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company's stock valued at $4,239,000 after purchasing an additional 4,015 shares in the last quarter. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Up 2.1%

WTRG stock opened at $39.39 on Friday. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.65. The business's 50-day moving average is $38.46 and its two-hundred day moving average is $38.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.58 and a current ratio of 0.73. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 3.54 and a beta of 0.82.

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

Essential Utilities Increases Dividend

The business 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. This represents a $1.37 annualized dividend and a dividend yield of 3.5%. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 12th. Essential Utilities's dividend payout ratio is 58.80%.

Analysts Set New Price Targets

WTRG has been the topic of a number of research analyst reports. Wall Street Zen downgraded Essential Utilities from a "hold" rating to a "sell" rating in a report on Friday. UBS Group upped their price target on Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 15th. Zacks Research downgraded Essential Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Essential Utilities in a report on Saturday, September 27th. Finally, Robert W. Baird increased their target price on Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.00.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.