Natixis Advisors LLC Increases Holdings in Essential Utilities Inc. (NYSE:WTRG)

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 increased its holdings in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 37.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,594 shares of the company's stock after purchasing an additional 34,366 shares during the period. Natixis Advisors LLC's holdings in Essential Utilities were worth $5,004,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WTRG. Valley National Advisers Inc. bought a new position in Essential Utilities in the first quarter worth approximately $33,000. American National Bank & Trust bought a new position in shares of Essential Utilities in the first quarter valued at approximately $35,000. CX Institutional bought a new position in shares of Essential Utilities in the first quarter valued at approximately $42,000. Orion Capital Management LLC bought a new position in shares of Essential Utilities in the fourth quarter valued at approximately $41,000. Finally, Siemens Fonds Invest GmbH bought a new position in shares of Essential Utilities in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Performance

Shares of WTRG traded up $0.38 on Friday, reaching $38.81. 2,461,354 shares of the company's stock traded hands, compared to its average volume of 1,859,846. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.13. The stock has a market cap of $10.88 billion, a PE ratio of 16.65, a PEG ratio of 3.53 and a beta of 0.78. The stock's 50 day simple moving average is $37.54 and its two-hundred day simple moving average is $38.02. 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 released its earnings results on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%. The business had revenue of $514.91 million during the quarter, compared to the consensus estimate of $462.70 million. During the same period last year, the business posted $0.28 earnings per share. The business's revenue for the quarter was up 18.5% on a year-over-year basis. On average, analysts forecast that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a $0.3426 dividend. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. 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. Essential Utilities's dividend payout ratio (DPR) is 55.79%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WTRG shares. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird raised 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.