Northern Trust Corp Sells 112,776 Shares of Essential Utilities Inc. $WTRG

Key Points

• Northern Trust Corp reduced its ownership in Essential Utilities Inc. by 3.4%, selling 112,776 shares in the first quarter, leaving them with 3,218,314 shares valued at approximately $127.2 million.
• Several institutional investors have increased or acquired stakes in Essential Utilities during the first quarter, indicating a strong interest in the company as institutional ownership now stands at 74.78%.
• Essential Utilities declared a quarterly dividend of $0.3426 per share, an increase from their previous dividend, reflecting the company's commitment to returning value to shareholders.

Northern Trust Corp lowered its position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,218,314 shares of the company's stock after selling 112,776 shares during the period. Northern Trust Corp owned approximately 1.17% of Essential Utilities worth $127,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WTRG. Teacher Retirement System of Texas purchased a new stake in Essential Utilities in the first quarter worth approximately $1,507,000. Wealthcare Advisory Partners LLC lifted its stake in shares of 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 buying an additional 1,867 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake 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 buying an additional 1,218 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Essential Utilities during the 4th quarter valued at $638,000. Finally, Envestnet Asset Management Inc. increased its holdings in Essential Utilities by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company's stock valued at $4,239,000 after acquiring an additional 4,015 shares during the last quarter. Institutional investors own 74.78% of the company's stock.

Analysts Set New Price Targets

WTRG has been the topic of a number of research reports. UBS Group boosted their target price on shares of Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Wall Street Zen downgraded shares of Essential Utilities from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Robert W. Baird upped their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Essential Utilities has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Essential Utilities Stock Up 1.0%

NYSE:WTRG opened at $39.5940 on Friday. The firm has a market capitalization of $11.10 billion, a P/E ratio of 16.99, a PEG ratio of 3.60 and a beta of 0.78. Essential Utilities Inc. has a 1-year low of $33.18 and a 1-year high of $41.65. The company's fifty day moving average price is $37.76 and its 200-day moving average price is $38.30. 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 data on Thursday, July 31st. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The firm 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 business's quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.3426 per share. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, August 12th. Essential Utilities's dividend payout ratio (DPR) is 58.80%.

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.

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