Prudential PLC Has $400,000 Stock Position in Essential Utilities Inc. $WTRG

Key Points

• Prudential PLC significantly reduced its stake in Essential Utilities Inc. by 88.5%, selling 77,530 shares and bringing its total holdings to 10,110 shares, valued at approximately $400,000.
• Several institutional investors, including Northern Trust Corp and Boston Trust Walden Corp, have increased their stakes in Essential Utilities, with Northern Trust raising its holdings by 22.0% in the fourth quarter.
• Essential Utilities announced a quarterly dividend increase to $0.3426 per share, reflecting a yield of 3.5%, which will be paid to investors of record on August 12th.

Prudential PLC cut its stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 88.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,110 shares of the company's stock after selling 77,530 shares during the quarter. Prudential PLC's holdings in Essential Utilities were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Essential Utilities in the 1st quarter worth about $31,000. Valley National Advisers Inc. bought a new stake in shares of Essential Utilities in the 1st quarter valued at approximately $33,000. American National Bank & Trust acquired a new position in Essential Utilities in the first quarter worth approximately $35,000. Orion Capital Management LLC acquired a new position in Essential Utilities in the fourth quarter worth approximately $41,000. Finally, CX Institutional bought a new position in Essential Utilities during the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Performance

Essential Utilities stock traded up $0.0250 on Wednesday, reaching $39.2250. 1,441,774 shares of the stock were exchanged, compared to its average volume of 1,719,553. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a twelve month low of $33.18 and a twelve month high of $41.65. The firm has a fifty day moving average price of $37.68 and a two-hundred day moving average price of $38.25. The stock 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 (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results 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. 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 the consensus estimate of $462.70 million. During the same period last year, the business posted $0.28 earnings per share. The firm's 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. Sell-side analysts anticipate that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

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

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird boosted their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. UBS Group lifted their price objective 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, Wall Street Zen upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Essential Utilities has an average rating of "Moderate Buy" and an average 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.