Bank of New York Mellon Corp Acquires 7,137 Shares of Essential Utilities Inc. $WTRG

Bank of New York Mellon Corp boosted its holdings in Essential Utilities Inc. (NYSE:WTRG) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,679,144 shares of the company’s stock after buying an additional 7,137 shares during the quarter. Bank of New York Mellon Corp owned 0.96% of Essential Utilities worth $99,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Boston Trust Walden Corp grew its stake in shares of Essential Utilities by 2.7% in the second quarter. Boston Trust Walden Corp now owns 2,544,883 shares of the company’s stock worth $94,517,000 after acquiring an additional 68,072 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Essential Utilities by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,438,783 shares of the company’s stock worth $96,405,000 after purchasing an additional 92,112 shares during the last quarter. Maple Brown Abbott Ltd purchased a new stake in Essential Utilities in the first quarter worth approximately $94,251,000. Cbre Investment Management Listed Real Assets LLC grew its position in Essential Utilities by 6.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,166,797 shares of the company’s stock worth $85,653,000 after purchasing an additional 123,786 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Essential Utilities by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,103,777 shares of the company’s stock valued at $83,162,000 after buying an additional 31,909 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG opened at $39.64 on Friday. The business has a 50-day simple moving average of $39.30 and a two-hundred day simple moving average of $38.74. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week high of $42.37. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 3.11 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $476.97 million for the quarter, compared to analysts’ expectations of $472.40 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, analysts expect that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.3426 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, November 12th. Essential Utilities’s dividend payout ratio is presently 56.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group restated a “neutral” rating and issued a $45.00 price target (down from $46.00) on shares of Essential Utilities in a research note on Tuesday, October 28th. Wall Street Zen raised Essential Utilities from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Zacks Research raised Essential Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Northcoast Research set a $46.00 price target on Essential Utilities in a research note on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Essential Utilities in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Essential Utilities currently has an average rating of “Hold” and an average price target of $44.57.

Essential Utilities 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.