AEGON ASSET MANAGEMENT UK Plc Acquires 139,727 Shares of Essential Utilities Inc. $WTRG

AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of Essential Utilities Inc. (NYSE:WTRG) by 18.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 900,380 shares of the company’s stock after purchasing an additional 139,727 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Essential Utilities were worth $33,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WTRG. Brighton Jones LLC bought a new stake in shares of Essential Utilities during the 4th quarter valued at about $638,000. Farther Finance Advisors LLC boosted its holdings in Essential Utilities by 220.3% in the first quarter. Farther Finance Advisors LLC now owns 3,248 shares of the company’s stock worth $128,000 after acquiring an additional 2,234 shares in the last quarter. CX Institutional bought a new position in Essential Utilities in the first quarter worth approximately $42,000. Sowell Financial Services LLC bought a new position in Essential Utilities in the first quarter worth approximately $207,000. Finally, QRG Capital Management Inc. boosted its holdings in Essential Utilities by 16.9% in the first quarter. QRG Capital Management Inc. now owns 14,627 shares of the company’s stock worth $578,000 after acquiring an additional 2,117 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG opened at $39.95 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 3.65 and a beta of 0.82. The stock has a 50 day moving average of $38.87 and a 200 day moving average of $38.62. Essential Utilities Inc. has a 12 month low of $33.18 and a 12 month high of $41.65.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.09. The company had revenue of $514.91 million during the quarter, compared to the consensus estimate of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.Essential Utilities’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. As a group, sell-side analysts forecast that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.33. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.4%. Essential Utilities’s dividend payout ratio (DPR) is 58.80%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Zacks Research lowered Essential Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Essential Utilities in a report on Wednesday, October 8th. Robert W. Baird increased their price target on Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Wall Street Zen upgraded Essential Utilities from a “sell” rating to a “hold” rating in a report on Saturday. Finally, UBS Group increased their price target on Essential Utilities from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.17.

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.