Toth Financial Advisory Corp Buys 17,560 Shares of Essential Utilities Inc. $WTRG

Key Points

• Toth Financial Advisory Corp increased its position in Essential Utilities Inc. by 18.9% during Q2, holding 110,295 shares worth approximately $4.10 million.
• Essential Utilities recently reported earnings exceeding analysts' expectations, with a quarterly revenue of $514.91 million and an EPS of $0.38, up from $0.28 the previous year.
• The company announced a dividend increase to $0.3426 per share, representing a yield of 3.7% and a payout ratio of 58.80%.

Toth Financial Advisory Corp raised its holdings in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 18.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,295 shares of the company's stock after buying an additional 17,560 shares during the period. Toth Financial Advisory Corp's holdings in Essential Utilities were worth $4,096,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WTRG. Bfsg LLC lifted its position in shares of Essential Utilities by 22.1% during the 1st quarter. Bfsg LLC now owns 1,453 shares of the company's stock valued at $57,000 after acquiring an additional 263 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of Essential Utilities by 24.7% during the first quarter. New Age Alpha Advisors LLC now owns 1,531 shares of the company's stock valued at $61,000 after purchasing an additional 303 shares during the last quarter. Community Bank N.A. lifted its holdings in shares of Essential Utilities by 1.3% during the first quarter. Community Bank N.A. now owns 23,928 shares of the company's stock valued at $946,000 after purchasing an additional 304 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of Essential Utilities by 27.6% in the 1st quarter. Truvestments Capital LLC now owns 1,406 shares of the company's stock valued at $56,000 after purchasing an additional 304 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Essential Utilities by 1.0% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 32,175 shares of the company's stock worth $1,272,000 after purchasing an additional 307 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Performance

Shares of WTRG stock traded up $0.36 during trading hours on Tuesday, reaching $37.40. 847,517 shares of the company's stock were exchanged, compared to its average volume of 1,768,471. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.65. The stock has a market capitalization of $10.49 billion, a P/E ratio of 16.06, a P/E/G ratio of 3.40 and a beta of 0.83. The business has a fifty day moving average price of $38.25 and a 200-day moving average price of $38.58. 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 (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.09. The business had revenue of $514.91 million for the quarter, compared to the consensus estimate of $462.70 million. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. Essential Utilities's quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the company posted $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. Analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.3426 per share. This represents a $1.37 dividend on an annualized basis and a yield of 3.7%. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 12th. Essential Utilities's dividend payout ratio (DPR) is 58.80%.

Wall Street Analyst Weigh In

WTRG has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Zacks Research lowered shares of Essential Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Wall Street Zen upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, August 31st. Finally, UBS Group increased 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. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Essential Utilities presently has an average rating of "Moderate Buy" and an average target price of $44.40.

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.