XTX Topco Ltd Acquires 29,139 Shares of Essential Utilities Inc. (NYSE:WTRG)

Key Points

• XTX Topco Ltd increased its stake in Essential Utilities Inc. by 196.7%, acquiring an additional 29,139 shares, bringing its total holdings to 43,952 shares valued at $1,737,000.
• Essential Utilities announced a quarterly dividend of $0.3426, an increase from the previous $0.33, with a yield of 3.7%, set to be paid on September 2nd.
• Analysts maintain a positive outlook on Essential Utilities, with an average target price of $43.50 and a consensus rating of "Moderate Buy."

XTX Topco Ltd raised its holdings in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 196.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 43,952 shares of the company's stock after acquiring an additional 29,139 shares during the period. XTX Topco Ltd's holdings in Essential Utilities were worth $1,737,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bfsg LLC raised 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. Blair William & Co. IL increased its position in shares of Essential Utilities by 1.2% in the 4th quarter. Blair William & Co. IL now owns 24,652 shares of the company's stock valued at $895,000 after buying an additional 285 shares in the last quarter. Community Bank N.A. increased its position in shares of Essential Utilities by 1.3% in the 1st quarter. Community Bank N.A. now owns 23,928 shares of the company's stock valued at $946,000 after buying an additional 304 shares in the last quarter. Apella Capital LLC increased its position in shares of Essential Utilities by 4.4% in the 1st quarter. Apella Capital LLC now owns 7,914 shares of the company's stock valued at $299,000 after buying an additional 334 shares in the last quarter. Finally, HM Payson & Co. increased its position in shares of Essential Utilities by 0.3% in the 1st quarter. HM Payson & Co. now owns 115,963 shares of the company's stock valued at $4,584,000 after buying an additional 334 shares in the last quarter. Institutional investors own 74.78% of the company's stock.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $36.82 on Friday. The firm has a market cap of $10.32 billion, a PE ratio of 16.51, a PEG ratio of 3.39 and a beta of 0.79. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.16. Essential Utilities Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The company has a fifty day moving average price of $37.58 and a 200 day moving average price of $37.87.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The firm had revenue of $514.91 million during the quarter, compared to analyst estimates of $462.70 million. Essential Utilities had a net margin of 27.17% and a return on equity of 9.81%. The company's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. Research analysts predict that Essential Utilities Inc. will post 1.99 earnings per share 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 paid a $0.3426 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, August 12th. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. Essential Utilities's dividend payout ratio (DPR) is currently 58.30%.

Wall Street Analysts Forecast Growth

WTRG has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price objective on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $43.50.

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.

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