Essential Utilities Inc. (NYSE:WTRG) Shares Purchased by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC increased its stake in Essential Utilities Inc. by 151%, owning 27,632 shares valued at approximately $1.09 million as of the latest SEC filing.
• Essential Utilities raised its quarterly dividend to $0.3426, reflecting an annualized dividend yield of 3.5%, indicating positive changes in its dividend payout strategy.
• The company's recent earnings report showed a 38% increase in earnings per share, beating the consensus estimate by $0.09, with revenue rising by 18.5% year-over-year.

Koss Olinger Consulting LLC increased its position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 151.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,632 shares of the company's stock after purchasing an additional 16,622 shares during the period. Koss Olinger Consulting LLC's holdings in Essential Utilities were worth $1,092,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in Essential Utilities during the first quarter worth about $1,507,000. Wealthcare Advisory Partners LLC raised its holdings in Essential Utilities by 8.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock worth $998,000 after purchasing an additional 1,867 shares in the last quarter. Brighton Jones LLC purchased a new position in Essential Utilities in the fourth quarter valued at about $638,000. Oppenheimer & Co. Inc. increased its holdings in Essential Utilities by 14.2% in the first quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock valued at $386,000 after buying an additional 1,218 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Essential Utilities by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company's stock valued at $4,239,000 after buying an additional 4,015 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on WTRG shares. Robert W. Baird increased their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.67.

Essential Utilities Price Performance

Shares of WTRG stock traded up $0.38 during trading hours on Friday, hitting $38.81. The company's stock had a trading volume of 2,461,354 shares, compared to its average volume of 1,912,817. The business has a fifty day moving average of $37.54 and a 200-day moving average of $38.08. The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 3.56 and a beta of 0.78. Essential Utilities Inc. has a twelve month low of $33.18 and a twelve month high of $41.65. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13.

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, beating the consensus estimate of $0.29 by $0.09. The business had revenue of $514.91 million for the quarter, compared to analyst estimates of $462.70 million. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The company's quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, equities research 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 will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a $0.3426 dividend. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, August 12th. Essential Utilities's dividend payout ratio (DPR) is currently 55.79%.

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.