Wilmington Savings Fund Society FSB Reduces Stake in Essential Utilities Inc. $WTRG

Wilmington Savings Fund Society FSB reduced its position in Essential Utilities Inc. (NYSE:WTRG) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,014 shares of the company’s stock after selling 7,628 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Essential Utilities were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WTRG. Headlands Technologies LLC bought a new position in Essential Utilities in the 1st quarter worth $31,000. Kennebec Savings Bank bought a new position in Essential Utilities in the 2nd quarter worth $31,000. Valley National Advisers Inc. bought a new position in Essential Utilities in the 1st quarter worth $33,000. National Pension Service raised its holdings in Essential Utilities by 75.0% in the 1st quarter. National Pension Service now owns 950 shares of the company’s stock worth $38,000 after purchasing an additional 407 shares during the period. Finally, CX Institutional bought a new position in Essential Utilities in the 1st quarter worth $42,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Trading Up 1.8%

Shares of WTRG stock opened at $40.68 on Thursday. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.65. 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 stock’s 50-day moving average price is $38.93 and its 200-day moving average price is $38.63. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 4.16 and a beta of 0.82.

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

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.3426 dividend. This represents a $1.37 annualized dividend and a dividend yield of 3.4%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 12th. Essential Utilities’s payout ratio is presently 58.80%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WTRG shares. Jefferies Financial Group raised their target price on Essential Utilities from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Robert W. Baird raised their price target on Essential Utilities from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Essential Utilities in a report on Wednesday, October 8th. Zacks Research cut Essential Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Finally, Barclays raised their price target on Essential Utilities from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.17.

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.