Nuveen LLC Purchases New Holdings in Essential Utilities Inc. $WTRG

Nuveen LLC acquired a new stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 645,726 shares of the company's stock, valued at approximately $25,526,000. Nuveen LLC owned about 0.23% of Essential Utilities as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp raised its position in Essential Utilities by 22.0% in the 4th quarter. Northern Trust Corp now owns 3,331,090 shares of the company's stock valued at $120,985,000 after purchasing an additional 601,026 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Essential Utilities by 16.5% during the first quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company's stock worth $97,908,000 after purchasing an additional 349,904 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Essential Utilities by 8.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,671 shares of the company's stock worth $85,231,000 after purchasing an additional 192,456 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Essential Utilities by 1.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,103,777 shares of the company's stock worth $83,162,000 after purchasing an additional 31,909 shares during the period. Finally, Tandem Investment Advisors Inc. grew its stake in shares of Essential Utilities by 0.9% during the first quarter. Tandem Investment Advisors Inc. now owns 2,045,060 shares of the company's stock worth $80,841,000 after purchasing an additional 18,353 shares during the period. Institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Down 0.2%

Shares of Essential Utilities stock traded down $0.0750 during trading on Thursday, reaching $39.1950. The stock had a trading volume of 721,959 shares, compared to its average volume of 1,712,923. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 3.60 and a beta of 0.78. The stock has a fifty day moving average price of $37.71 and a two-hundred day moving average price of $38.25. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week 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 issued its quarterly earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.09. The company had revenue of $514.91 million for the quarter, compared to analyst estimates of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.The company's quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. Sell-side analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a dividend of $0.3426 per share. The ex-dividend date is Tuesday, August 12th. 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%. Essential Utilities's dividend payout ratio is currently 58.80%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WTRG. Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Robert W. Baird lifted their price objective on Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, UBS Group lifted their target price on Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Essential Utilities presently has a consensus rating of "Moderate Buy" and an average target price of $44.50.

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.