Essential Utilities Inc. (NYSE:WTRG) Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has increased its stake in Essential Utilities Inc. by 37.3%, owning 126,594 shares worth about $5 million after purchasing an additional 34,366 shares in the first quarter.
• Essential Utilities has recently increased its quarterly dividend to $0.3426 per share, reflecting a yield of 3.6% and a payout ratio of 55.79%.
• In its latest earnings report, Essential Utilities exceeded analyst expectations, posting $0.38 EPS against a consensus estimate of $0.29, along with a revenue of $514.91 million.

Natixis Advisors LLC lifted its position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 37.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,594 shares of the company's stock after buying an additional 34,366 shares during the period. Natixis Advisors LLC's holdings in Essential Utilities were worth $5,004,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WTRG. NorthRock Partners LLC acquired a new stake in shares of Essential Utilities in the first quarter worth $219,000. XTX Topco Ltd raised its position in Essential Utilities by 196.7% in the first quarter. XTX Topco Ltd now owns 43,952 shares of the company's stock valued at $1,737,000 after purchasing an additional 29,139 shares during the period. Cozad Asset Management Inc. acquired a new position in shares of Essential Utilities during the first quarter worth about $237,000. Meeder Advisory Services Inc. boosted its position in shares of Essential Utilities by 7.6% in the first quarter. Meeder Advisory Services Inc. now owns 11,331 shares of the company's stock worth $448,000 after buying an additional 802 shares during the period. Finally, PTM Wealth Management LLC acquired a new stake in shares of Essential Utilities in the first quarter valued at about $236,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

NYSE:WTRG traded up $0.47 during trading hours on Thursday, reaching $38.38. 2,071,946 shares of the stock were exchanged, compared to its average volume of 1,711,499. The stock has a market capitalization of $10.76 billion, a P/E ratio of 16.47, a P/E/G ratio of 3.48 and a beta of 0.78. The firm has a 50 day simple moving average of $37.53 and a 200-day simple moving average of $37.97. The company has a quick ratio of 0.57, a current ratio of 0.73 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week high of $41.65.

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, topping the consensus estimate of $0.29 by $0.09. The firm had revenue of $514.91 million for the quarter, compared to analysts' expectations of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%. The firm's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.3426 dividend. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.37 annualized dividend and a dividend yield of 3.6%. Essential Utilities's dividend payout ratio (DPR) is presently 58.80%.

Wall Street Analyst Weigh In

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

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.