Essential Utilities Inc. $WTRG Stock Position Lowered by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC reduced its stake in Essential Utilities Inc. by 9.0%, selling 24,024 shares during the first quarter, now holding approximately 0.09% of the company valued at $9.66 million.
• Essential Utilities announced an increase in its quarterly dividend to $0.3426 per share, which translates to an annualized dividend of $1.37 and a yield of 3.5%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Essential Utilities, with price targets raised to an average of $44.50 following positive earnings results.

Cambiar Investors LLC lowered its stake in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 9.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 244,329 shares of the company's stock after selling 24,024 shares during the quarter. Cambiar Investors LLC owned about 0.09% of Essential Utilities worth $9,658,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Essential Utilities by 22.0% during the 4th quarter. Northern Trust Corp now owns 3,331,090 shares of the company's stock valued at $120,985,000 after acquiring an additional 601,026 shares during the period. Boston Trust Walden Corp grew its stake in Essential Utilities by 16.5% in the 1st quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company's stock worth $97,908,000 after acquiring an additional 349,904 shares during the period. Maple Brown Abbott Ltd purchased a new stake in Essential Utilities in the 1st quarter worth approximately $94,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Essential Utilities by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,671 shares of the company's stock worth $85,231,000 after acquiring an additional 192,456 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Essential Utilities by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,103,777 shares of the company's stock valued at $83,162,000 after buying an additional 31,909 shares during the period. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Price Performance

Shares of Essential Utilities stock traded up $0.0250 on Wednesday, hitting $39.2250. The company had a trading volume of 1,441,774 shares, compared to its average volume of 1,719,575. The business has a 50-day simple moving average of $37.68 and a 200-day simple moving average of $38.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58. The company has a market cap of $11.00 billion, a PE ratio of 16.83, a PEG ratio of 3.55 and a beta of 0.78. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week high of $41.65.

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 (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.09. The business had revenue of $514.91 million during the quarter, compared to analysts' expectations of $462.70 million. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The business's revenue was up 18.5% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. Research analysts expect that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a dividend of $0.3426 per share. 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 payout ratio is 58.80%.

Wall Street Analysts Forecast Growth

WTRG has been the subject of a number of research reports. Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group upped their target price on shares of Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Finally, Robert W. Baird upped their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Essential Utilities currently has an average rating of "Moderate Buy" and a consensus price target of $44.50.

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.