Zacks Research Comments on Essential Utilities, Inc.’s Q3 2024 Earnings (NYSE:WTRG)

Essential Utilities, Inc. (NYSE:WTRG) – Investment analysts at Zacks Research reduced their Q3 2024 earnings per share estimates for shares of Essential Utilities in a report released on Monday, August 26th. Zacks Research analyst R. Department now expects that the company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.25. The consensus estimate for Essential Utilities’ current full-year earnings is $1.96 per share. Zacks Research also issued estimates for Essential Utilities’ Q1 2026 earnings at $0.89 EPS and FY2026 earnings at $2.20 EPS.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business had revenue of $434.40 million during the quarter, compared to the consensus estimate of $442.76 million. During the same period in the previous year, the business posted $0.34 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis.

Several other research firms also recently weighed in on WTRG. Evercore ISI lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird lifted their target price on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Essential Utilities Price Performance

NYSE WTRG opened at $38.94 on Wednesday. The company has a market capitalization of $10.65 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 3.52 and a beta of 0.83. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. The business’s fifty day moving average is $39.14 and its 200 day moving average is $37.47. Essential Utilities has a fifty-two week low of $32.07 and a fifty-two week high of $41.78.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kingswood Wealth Advisors LLC boosted its holdings in shares of Essential Utilities by 4.5% in the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock valued at $259,000 after purchasing an additional 297 shares during the period. Sanibel Captiva Trust Company Inc. boosted its position in Essential Utilities by 5.4% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock valued at $240,000 after acquiring an additional 334 shares in the last quarter. VisionPoint Advisory Group LLC boosted its position in Essential Utilities by 52.9% during the 4th quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock valued at $36,000 after acquiring an additional 338 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in shares of Essential Utilities by 5.5% in the 1st quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock worth $241,000 after purchasing an additional 339 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Essential Utilities by 8.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,416 shares of the company’s stock worth $165,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.43, for a total transaction of $87,661.06. Following the transaction, the chief accounting officer now owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a dividend of $0.3255 per share. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, August 12th. Essential Utilities’s payout ratio is presently 61.61%.

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.