Essential Utilities Inc. $WTRG Shares Sold by Van Lanschot Kempen Investment Management N.V.

Van Lanschot Kempen Investment Management N.V. lowered its stake in shares of Essential Utilities Inc. (NYSE:WTRG) by 12.9% in the first quarter, HoldingsChannel reports. The firm owned 3,362 shares of the company’s stock after selling 497 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in Essential Utilities were worth $133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Essential Utilities during the 1st quarter valued at approximately $31,000. Valley National Advisers Inc. acquired a new position in Essential Utilities during the 1st quarter valued at approximately $33,000. American National Bank & Trust acquired a new position in Essential Utilities during the 1st quarter valued at approximately $35,000. National Pension Service boosted its position in Essential Utilities by 75.0% during the 1st quarter. National Pension Service now owns 950 shares of the company’s stock valued at $38,000 after purchasing an additional 407 shares during the period. Finally, CX Institutional acquired a new position in Essential Utilities during the 1st quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Up 0.1%

Shares of Essential Utilities stock opened at $39.2250 on Thursday. The business’s fifty day moving average price is $37.71 and its two-hundred day moving average price is $38.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58. The company has a market capitalization of $11.00 billion, a P/E ratio of 16.83, a PEG ratio of 3.60 and a beta of 0.78. Essential Utilities Inc. has a 1-year low of $33.18 and a 1-year high of $41.65.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Thursday, July 31st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The firm had revenue of $514.91 million for 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%.The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. As a group, research analysts forecast that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a $0.3426 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.33. Essential Utilities’s dividend payout ratio (DPR) is presently 58.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WTRG shares. Robert W. Baird boosted their price objective on Essential Utilities from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Wall Street Zen upgraded Essential Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, UBS Group lifted their target price on Essential Utilities from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and an average target price of $44.50.

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.