Dynamic Technology Lab Private Ltd Takes $879,000 Position in Essential Utilities Inc. $WTRG

Key Points

• Dynamic Technology Lab Private Ltd has made a significant investment in Essential Utilities Inc. by acquiring 22,227 shares valued at approximately $879,000.
• Essential Utilities recently announced a quarterly dividend increase to $0.3426, reflecting a 3.6% yield on an annualized basis.
• The company reported earnings of $0.38 per share for the last quarter, exceeding estimates, and its revenue increased by 18.5% compared to the previous year.

Dynamic Technology Lab Private Ltd bought a new stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,227 shares of the company's stock, valued at approximately $879,000.

Several other hedge funds have also made changes to their positions in WTRG. Brighton Jones LLC bought a new stake in shares of Essential Utilities in the fourth quarter valued at about $638,000. BNP Paribas Financial Markets bought a new stake in shares of Essential Utilities in the fourth quarter valued at about $5,268,000. Captrust Financial Advisors lifted its stake in shares of Essential Utilities by 52.7% in the fourth quarter. Captrust Financial Advisors now owns 27,451 shares of the company's stock valued at $997,000 after buying an additional 9,470 shares during the period. Focus Partners Wealth lifted its stake in shares of Essential Utilities by 8.4% in the fourth quarter. Focus Partners Wealth now owns 21,278 shares of the company's stock valued at $773,000 after buying an additional 1,646 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Essential Utilities by 24.1% in the fourth quarter. Janus Henderson Group PLC now owns 58,006 shares of the company's stock valued at $2,107,000 after buying an additional 11,253 shares during the period. Institutional investors own 74.78% of the company's stock.

Essential Utilities Price Performance

WTRG traded up $0.06 during midday trading on Friday, reaching $38.30. 1,774,764 shares of the company's stock were exchanged, compared to its average volume of 1,871,612. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 3.52 and a beta of 0.83. 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 one year low of $33.18 and a one year high of $41.65. The business has a 50-day simple moving average of $38.25 and a two-hundred day simple moving average of $38.64.

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

Essential Utilities Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 12th. Essential Utilities's dividend payout ratio is presently 58.80%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Zacks Research cut shares of Essential Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. UBS Group raised their price target on shares of Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, August 31st. Finally, Robert W. Baird raised their price target on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $44.50.

Essential Utilities Company 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.