Candriam S.C.A. Cuts Stock Holdings in Essential Utilities Inc. $WTRG

Key Points

• Candriam S.C.A. reduced its holdings in Essential Utilities Inc. by 4.3%, now owning 333,404 shares valued at approximately $13.18 million.
• Analysts are optimistic about Essential Utilities, with five rating it as a Buy and others raising price targets, including UBS Group increasing theirs from $42 to $47.
• Essential Utilities announced a quarterly dividend increase to $0.3426, representing a 3.5% yield and reflecting a payout ratio of 58.80%.

Candriam S.C.A. reduced its position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 333,404 shares of the company's stock after selling 15,077 shares during the period. Candriam S.C.A. owned approximately 0.12% of Essential Utilities worth $13,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Maple Brown Abbott Ltd bought a new position in shares of Essential Utilities in the 1st quarter valued at $94,251,000. Ensign Peak Advisors Inc grew its stake in shares of Essential Utilities by 74.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,593,053 shares of the company's stock valued at $57,860,000 after buying an additional 680,760 shares during the period. Nuveen LLC acquired a new stake in shares of Essential Utilities in the 1st quarter valued at about $25,526,000. Northern Trust Corp lifted its position in Essential Utilities by 22.0% in 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 in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Essential Utilities in the 4th quarter valued at about $20,436,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Trading Up 1.0%

WTRG stock traded up $0.3740 during trading on Friday, reaching $39.5940. The company had a trading volume of 2,072,125 shares, compared to its average volume of 1,940,556. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week high of $41.65. The company has a market cap of $11.10 billion, a P/E ratio of 16.99, a PEG ratio of 3.64 and a beta of 0.78. The business has a 50 day moving average of $37.76 and a 200 day moving average of $38.32. 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 (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The company had revenue of $514.91 million during the quarter, compared to the consensus estimate of $462.70 million. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. Essential Utilities's revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. As a group, sell-side analysts forecast that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business 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 $0.3426 dividend. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, August 12th. Essential Utilities's dividend payout ratio is 58.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Essential Utilities from a "hold" rating to a "sell" rating in a research report on Saturday. Robert W. Baird lifted their price objective 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. Finally, 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. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Essential Utilities has a consensus rating of "Moderate Buy" and an average target price 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.