Securian Asset Management Inc. Buys 542 Shares of Essential Utilities Inc. $WTRG

Securian Asset Management Inc. boosted its stake in Essential Utilities Inc. (NYSE:WTRG) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,641 shares of the company’s stock after acquiring an additional 542 shares during the quarter. Securian Asset Management Inc.’s holdings in Essential Utilities were worth $729,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WTRG. Headlands Technologies LLC bought a new stake in Essential Utilities in the 1st quarter valued at $31,000. Kennebec Savings Bank bought a new stake in Essential Utilities in the 2nd quarter valued at $31,000. Valley National Advisers Inc. bought a new stake in Essential Utilities in the 1st quarter valued at $33,000. National Pension Service lifted its position in Essential Utilities by 75.0% in the 1st quarter. National Pension Service now owns 950 shares of the company’s stock valued at $38,000 after acquiring an additional 407 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in Essential Utilities by 101.8% in the 1st quarter. Brooklyn Investment Group now owns 1,360 shares of the company’s stock valued at $54,000 after acquiring an additional 686 shares in the last quarter. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Down 0.2%

Shares of WTRG stock opened at $41.24 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.58 and a current ratio of 0.73. The firm’s 50-day moving average is $39.29 and its 200-day moving average is $38.74. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 4.30 and a beta of 0.82. Essential Utilities Inc. has a 52-week low of $33.18 and a 52-week high of $42.37.

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, beating analysts’ consensus estimates of $0.29 by $0.09. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The company had revenue of $514.91 million for the quarter, compared to analysts’ expectations of $462.70 million. During the same period in the prior year, the firm earned $0.28 EPS. Essential Utilities’s quarterly 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. Sell-side analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.3426 per share. This represents a $1.37 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 12th. Essential Utilities’s payout ratio is currently 58.80%.

Wall Street Analyst Weigh In

Several research firms recently commented on WTRG. UBS Group boosted their price objective on shares of Essential Utilities from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Robert W. Baird increased their price objective on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Barclays increased their price objective on shares of Essential Utilities from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Finally, Jefferies Financial Group increased their price objective on shares of Essential Utilities from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Essential Utilities has an average 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.