Flputnam Investment Management Co. Invests $3.38 Million in Essential Utilities Inc. $WTRG

Key Points

• Flputnam Investment Management Co. has acquired a new position in Essential Utilities Inc. (NYSE:WTRG), investing approximately $3.38 million to purchase 85,580 shares during the first quarter.
• Essential Utilities reported a net margin of 27.62% and a revenue of $514.91 million for the last quarter, surpassing analysts' expectations of $462.70 million.
• Following the increase in its quarterly dividend to $0.3426 per share, Essential Utilities' annualized dividend yield now stands at 3.5%.

Flputnam Investment Management Co. acquired a new position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 85,580 shares of the company's stock, valued at approximately $3,383,000.

Other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in shares of Essential Utilities during the 1st quarter worth approximately $1,507,000. Wealthcare Advisory Partners LLC grew its stake in Essential Utilities by 8.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock worth $998,000 after acquiring an additional 1,867 shares during the period. Oppenheimer & Co. Inc. grew its stake in Essential Utilities by 14.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock worth $386,000 after acquiring an additional 1,218 shares during the period. Brighton Jones LLC purchased a new stake in Essential Utilities in the 4th quarter worth approximately $638,000. Finally, Envestnet Asset Management Inc. grew its stake in Essential Utilities by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company's stock worth $4,239,000 after acquiring an additional 4,015 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on WTRG. Robert W. Baird lifted their target price 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. UBS Group lifted their target price 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 raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Zacks Research cut shares of Essential Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Essential Utilities currently has an average rating of "Moderate Buy" and an average price target of $44.50.

Essential Utilities Stock Down 0.3%

Shares of NYSE WTRG opened at $39.55 on Monday. Essential Utilities Inc. has a 52-week low of $33.18 and a 52-week high of $41.65. The firm has a fifty day moving average of $37.97 and a 200-day moving average of $38.49. The stock has a market capitalization of $11.09 billion, a PE ratio of 16.97, a P/E/G ratio of 3.63 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 (NYSE:WTRG - Get Free Report) last announced 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. 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 period in the previous year, the company earned $0.28 EPS. The business'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. On average, analysts anticipate that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

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

Essential Utilities 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.

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