Dynamic Technology Lab Private Ltd Buys New Holdings 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 position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 22,227 shares of the company's stock, valued at approximately $879,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Essential Utilities during the 1st quarter worth approximately $31,000. Valley National Advisers Inc. acquired a new stake in shares of Essential Utilities in the 1st quarter worth approximately $33,000. American National Bank & Trust acquired a new stake in shares of Essential Utilities in the 1st quarter worth approximately $35,000. National Pension Service grew its holdings in shares of Essential Utilities by 75.0% in the 1st 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 acquired a new stake in shares of Essential Utilities in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WTRG shares. UBS Group upped their price target on Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Zacks Research cut Essential Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, August 31st. 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 investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.50.

Essential Utilities Price Performance

NYSE:WTRG traded up $0.06 during trading hours on Friday, reaching $38.30. 1,774,764 shares of the company traded hands, compared to its average volume of 1,856,478. The firm's 50-day moving average is $38.25 and its 200-day moving average is $38.63. The stock has a market cap of $10.74 billion, a P/E ratio of 16.44, a P/E/G ratio of 3.51 and a beta of 0.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58. Essential Utilities Inc. has a 1-year low of $33.18 and a 1-year high of $41.65.

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

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.3426 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. Essential Utilities's dividend payout ratio is currently 58.80%.

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.