Vident Advisory LLC Makes New Investment in Essential Utilities Inc. $WTRG

Key Points

• Vident Advisory LLC has invested approximately $366,000 in Essential Utilities Inc., acquiring 9,256 shares of the company's stock during the 1st quarter.
• The company announced a quarterly dividend increase to $0.3426, up from $0.33, yielding an annualized dividend of $1.37 with a payout ratio of 58.80%.
• Wall Street analysts have given Essential Utilities a consensus rating of "Moderate Buy" with a target price averaging $44.50.

Vident Advisory LLC bought a new position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,256 shares of the company's stock, valued at approximately $366,000.

A number of other hedge funds also recently bought and sold shares of the stock. Trexquant Investment LP purchased a new stake in Essential Utilities during the first quarter worth $1,606,000. Truvestments Capital LLC lifted its holdings in Essential Utilities by 27.6% during the first quarter. Truvestments Capital LLC now owns 1,406 shares of the company's stock worth $56,000 after buying an additional 304 shares during the period. WealthTrust Axiom LLC purchased a new stake in shares of Essential Utilities during the 1st quarter valued at $476,000. Walleye Capital LLC purchased a new stake in shares of Essential Utilities during the 1st quarter valued at $258,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Essential Utilities during the 1st quarter valued at $2,568,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen upgraded 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 increased their price objective 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 increased their price objective on Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Essential Utilities presently has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Essential Utilities Stock Performance

WTRG stock traded up $0.06 during midday trading on Friday, reaching $38.30. The stock had a trading volume of 1,774,764 shares, compared to its average volume of 1,856,478. The stock has a market cap of $10.74 billion, a PE ratio of 16.44, a P/E/G ratio of 3.51 and a beta of 0.83. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.58 and a current ratio of 0.73. The firm has a fifty day simple moving average of $38.25 and a two-hundred day simple moving average of $38.63. Essential Utilities Inc. has a 52-week low of $33.18 and a 52-week high of $41.65.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The company had revenue of $514.91 million during 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 firm's quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.3426 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $1.37 annualized dividend and a yield of 3.6%. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. Essential Utilities's payout ratio is 58.80%.

Essential Utilities 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.