Resolution Capital Ltd Has $1.46 Million Stake in Essential Utilities Inc. $WTRG

Key Points

• Resolution Capital Ltd has reduced its stake in Essential Utilities Inc. by 28.3%, holding 36,948 shares valued at approximately $1.46 million.
• Essential Utilities reported a quarterly earnings per share (EPS) of $0.38, exceeding analysts' expectations of $0.29, and had a significant year-over-year revenue increase of 18.5%.
• Recently, Essential Utilities increased its quarterly dividend to $0.3426 per share, resulting in an annualized dividend of $1.37 and a yield of 3.5%.

Resolution Capital Ltd decreased its stake in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 28.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 36,948 shares of the company's stock after selling 14,609 shares during the period. Resolution Capital Ltd's holdings in Essential Utilities were worth $1,461,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in WTRG. Maple Brown Abbott Ltd acquired a new position in shares of Essential Utilities during the 1st quarter valued at about $94,251,000. Ensign Peak Advisors Inc increased its holdings in shares of Essential Utilities by 74.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,593,053 shares of the company's stock valued at $57,860,000 after acquiring an additional 680,760 shares during the last quarter. Nuveen LLC acquired a new position in shares of Essential Utilities during the 1st quarter valued at about $25,526,000. Raiffeisen Bank International AG acquired a new position in shares of Essential Utilities during the 4th quarter valued at about $20,436,000. Finally, Boston Trust Walden Corp increased its holdings in shares of Essential Utilities by 16.5% during the 1st quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company's stock valued at $97,908,000 after acquiring an additional 349,904 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Performance

WTRG opened at $39.31 on Friday. The stock's 50 day moving average price is $38.14 and its two-hundred day moving average price is $38.57. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.65. The firm has a market capitalization of $11.03 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 3.58 and a beta of 0.83.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.38 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 company had revenue of $514.91 million during the quarter, compared to the consensus estimate of $462.70 million. During the same quarter last year, the company earned $0.28 EPS. The company's quarterly revenue was up 18.5% on a year-over-year basis. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, equities analysts forecast that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.3426 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. Essential Utilities's dividend payout ratio is 58.80%.

Analyst Upgrades and Downgrades

WTRG has been the topic of a number of analyst reports. Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, August 31st. Zacks Research lowered Essential Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. 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. Finally, UBS Group raised their target price on Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 15th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.50.

Essential Utilities Company Profile

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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