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 grew its stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 826.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WTRG. Boston Trust Walden Corp increased its stake in shares of Essential Utilities by 16.5% in the 1st quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company's stock valued at $97,908,000 after purchasing an additional 349,904 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Essential Utilities by 3.9% during 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 worth $96,405,000 after purchasing an additional 92,112 shares in the last quarter. Maple Brown Abbott Ltd purchased a new position in Essential Utilities in the first quarter valued at about $94,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Essential Utilities by 8.9% during 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 worth $85,231,000 after acquiring an additional 192,456 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Essential Utilities by 6.1% in the 1st 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 acquiring an additional 123,786 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 0.3%

NYSE WTRG traded down $0.13 during mid-day trading on Friday, reaching $37.08. 6,770,585 shares of the stock were exchanged, compared to its average volume of 1,893,165. The stock has a market cap of $10.40 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.40 and a beta of 0.83. The stock has a 50 day simple moving average of $38.26 and a 200-day simple moving average of $38.59. Essential Utilities Inc. has a one year low of $33.18 and a one year high of $41.65. 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 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The business had revenue of $514.91 million during the quarter, compared to analysts' expectations of $462.70 million. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The business's quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. 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 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. This represents a $1.37 dividend on an annualized basis and a yield of 3.7%. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 12th. Essential Utilities's payout ratio is currently 58.80%.

Wall Street Analyst Weigh In

Several research firms recently commented on WTRG. Zacks Research lowered shares of Essential Utilities from a "strong-buy" rating to a "hold" rating in a research note 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. UBS Group boosted their target price on Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. 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. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Essential Utilities currently has a consensus rating of "Moderate Buy" and an average target price of $44.40.

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.