Gateway Investment Advisers LLC Buys 57,143 Shares of Essential Utilities Inc. $WTRG

Key Points

• Gateway Investment Advisers LLC increased its stake in Essential Utilities Inc. by 826.4% during Q2, owning 64,058 shares worth approximately $2.38 million.
• Essential Utilities recently increased its quarterly dividend to $0.3426 per share, reflecting a yield of 3.7% and a payout ratio of 58.80%.
• Analysts have generally given Essential Utilities a consensus rating of "Moderate Buy", with a target price of $44.50, following several recent upgrades and downgrades.

Gateway Investment Advisers LLC increased its position in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 826.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,058 shares of the company's stock after buying an additional 57,143 shares during the quarter. Gateway Investment Advisers LLC's holdings in Essential Utilities were worth $2,379,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Boston Trust Walden Corp lifted its holdings in shares of Essential Utilities by 16.5% in the first quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company's stock valued at $97,908,000 after buying an additional 349,904 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Essential Utilities by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,438,783 shares of the company's stock valued at $96,405,000 after buying an additional 92,112 shares during the period. Maple Brown Abbott Ltd acquired a new stake in shares of Essential Utilities in the first quarter valued at $94,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Essential Utilities by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,671 shares of the company's stock valued at $85,231,000 after buying an additional 192,456 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Essential Utilities by 6.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,166,797 shares of the company's stock valued at $85,653,000 after buying an additional 123,786 shares during the period. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Down 0.3%

NYSE:WTRG traded down $0.13 during trading hours on Friday, hitting $37.08. 6,770,585 shares of the company's stock traded hands, compared to its average volume of 1,893,165. The firm has a market cap of $10.40 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.41 and a beta of 0.83. Essential Utilities Inc. has a twelve month low of $33.18 and a twelve month high of $41.65. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.58 and a current ratio of 0.73. The stock's fifty day moving average price is $38.26 and its two-hundred day moving average price is $38.59.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The firm had revenue of $514.91 million for the quarter, compared to analyst estimates of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.Essential Utilities's quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, 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. Investors of record on Tuesday, August 12th were given a dividend of $0.3426 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a yield of 3.7%. Essential Utilities's payout ratio is presently 58.80%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. UBS Group upped their price objective on Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 15th. Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, August 31st. Robert W. Baird upped 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. Finally, Zacks Research downgraded Essential Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Essential Utilities has an average rating of "Moderate Buy" and an average price target of $44.40.

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.