Zacks Research Research Analysts Boost Earnings Estimates for Essential Utilities, Inc. (NYSE:WTRG)

Essential Utilities, Inc. (NYSE:WTRG - Free Report) - Equities research analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for shares of Essential Utilities in a note issued to investors on Monday, April 1st. Zacks Research analyst R. Department now expects that the company will earn $2.01 per share for the year, up from their previous forecast of $1.99. The consensus estimate for Essential Utilities' current full-year earnings is $1.99 per share. Zacks Research also issued estimates for Essential Utilities' FY2025 earnings at $2.10 EPS.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. The business had revenue of $479.40 million during the quarter, compared to analysts' expectations of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. Essential Utilities's quarterly revenue was down 32.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS.

Separately, Evercore ISI decreased their price target on Essential Utilities from $51.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Essential Utilities Price Performance

NYSE WTRG traded up $0.46 during trading hours on Thursday, reaching $36.49. 1,026,954 shares of the company's stock were exchanged, compared to its average volume of 1,807,279. The stock has a market cap of $9.98 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82. Essential Utilities has a one year low of $32.07 and a one year high of $45.29. The firm has a fifty day moving average of $35.86 and a 200-day moving average of $35.66. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

Institutional Trading of Essential Utilities

Several hedge funds have recently added to or reduced their stakes in WTRG. American Century Companies Inc. raised its stake in Essential Utilities by 15.7% during the 1st quarter. American Century Companies Inc. now owns 11,774 shares of the company's stock worth $602,000 after buying an additional 1,602 shares during the period. Natixis Advisors L.P. raised its stake in Essential Utilities by 80.7% during the 1st quarter. Natixis Advisors L.P. now owns 37,787 shares of the company's stock worth $1,932,000 after buying an additional 16,871 shares during the period. Dimensional Fund Advisors LP raised its stake in Essential Utilities by 12.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the company's stock worth $60,662,000 after buying an additional 127,695 shares during the period. Aviva PLC acquired a new stake in Essential Utilities during the 1st quarter worth $5,907,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Essential Utilities by 3,972.9% in the 1st quarter. Allianz Asset Management GmbH now owns 524,708 shares of the company's stock valued at $26,828,000 after purchasing an additional 511,825 shares during the period. Institutional investors and hedge funds own 74.78% of the company's stock.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the transaction, the chief accounting officer now directly owns 57,756 shares in the company, valued at approximately $2,149,100.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a $0.3071 dividend. This is a positive change from Essential Utilities's previous quarterly dividend of $0.31. This represents a $1.23 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities's dividend payout ratio (DPR) is currently 66.13%.

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.