Kestra Advisory Services LLC Sells 9,655 Shares of Essential Utilities Inc. $WTRG

Kestra Advisory Services LLC cut its stake in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,982 shares of the company's stock after selling 9,655 shares during the period. Kestra Advisory Services LLC's holdings in Essential Utilities were worth $1,067,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in Essential Utilities during the 1st quarter valued at $1,507,000. Wealthcare Advisory Partners LLC lifted its stake in Essential Utilities by 8.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock valued at $998,000 after acquiring an additional 1,867 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Essential Utilities by 14.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock valued at $386,000 after purchasing an additional 1,218 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of Essential Utilities during the 4th quarter valued at $638,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Essential Utilities by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company's stock valued at $4,239,000 after purchasing an additional 4,015 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Trading Down 0.3%

Shares of WTRG opened at $39.55 on Tuesday. The business has a 50-day moving average of $38.00 and a 200 day moving average of $38.52. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.65. The firm has a market cap of $11.09 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 3.63 and a beta of 0.83. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.58 and a current ratio of 0.73.

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 for the quarter, topping 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 during the quarter, compared to analyst estimates of $462.70 million. During the same quarter last year, the firm posted $0.28 EPS. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. As a group, research analysts forecast that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on WTRG. Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday. UBS Group raised their target price on Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, August 15th. Zacks Research lowered Essential Utilities from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Robert W. Baird upped their price objective on Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. 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 Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.