Pekao Towarzystwo Funduszy Inwestycyjnych S.A. Takes $3.55 Million Position in Essential Utilities Inc. $WTRG

Key Points

• Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought 92,461 shares of Essential Utilities (NYSE:WTRG) in Q4 worth about $3.55 million, making the position 2.9% of the fund's holdings and its 11th largest holding.
• Essential Utilities beat quarterly expectations, reporting $0.47 EPS versus $0.36 expected and revenue of $699.1 million (up 15.7% year‑over‑year) versus consensus of $611.6 million.
• The company announced a quarterly dividend of $0.3426 (annualized $1.37) for a yield of roughly 3.5% with an ex‑dividend date of May 12, while analysts' consensus rating is a "Hold" with a $43.20 target price.

Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 92,461 shares of the company's stock, valued at approximately $3,547,000. Essential Utilities accounts for 2.9% of Pekao Towarzystwo Funduszy Inwestycyjnych S.A.'s holdings, making the stock its 11th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of WTRG. Apella Capital LLC raised its position in shares of Essential Utilities by 3.2% during the 3rd quarter. Apella Capital LLC now owns 8,346 shares of the company's stock worth $345,000 after buying an additional 259 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Essential Utilities by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 104,188 shares of the company's stock worth $4,157,000 after buying an additional 271 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Essential Utilities by 2.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 13,036 shares of the company's stock worth $520,000 after buying an additional 287 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Essential Utilities by 1.7% during the 3rd quarter. Belpointe Asset Management LLC now owns 17,275 shares of the company's stock worth $689,000 after buying an additional 291 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Essential Utilities by 43.6% during the 3rd quarter. Bessemer Group Inc. now owns 1,114 shares of the company's stock worth $45,000 after buying an additional 338 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Up 0.7%

NYSE WTRG opened at $38.98 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.80 and a quick ratio of 0.65. The company's 50 day simple moving average is $39.90 and its 200 day simple moving average is $39.42. Essential Utilities Inc. has a 12 month low of $36.32 and a 12 month high of $42.37. The company has a market capitalization of $11.04 billion, a P/E ratio of 17.64 and a beta of 0.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.11. Essential Utilities had a net margin of 24.91% and a return on equity of 9.18%. The business had revenue of $699.11 million for the quarter, compared to the consensus estimate of $611.60 million. During the same period in the previous year, the firm earned $0.67 EPS. The business's revenue for the quarter was up 15.7% on a year-over-year basis. Equities research analysts expect that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be issued a $0.3426 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, May 12th. Essential Utilities's payout ratio is presently 61.99%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WTRG. Argus upgraded shares of Essential Utilities to a "strong-buy" rating in a research report on Monday, March 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of Essential Utilities in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Essential Utilities currently has an average rating of "Hold" and a consensus target price of $43.20.

About Essential Utilities

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.

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