Synergy Asset Management LLC Decreases Stake in Essential Utilities Inc. $WTRG

Synergy Asset Management LLC lowered its holdings in Essential Utilities Inc. (NYSE:WTRG) by 59.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,878 shares of the company’s stock after selling 76,844 shares during the quarter. Synergy Asset Management LLC’s holdings in Essential Utilities were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Bfsg LLC raised its stake in shares of Essential Utilities by 22.1% in the first quarter. Bfsg LLC now owns 1,453 shares of the company’s stock worth $57,000 after purchasing an additional 263 shares during the last quarter. New Age Alpha Advisors LLC raised its stake in shares of Essential Utilities by 24.7% in the first quarter. New Age Alpha Advisors LLC now owns 1,531 shares of the company’s stock worth $61,000 after purchasing an additional 303 shares during the last quarter. Community Bank N.A. raised its stake in shares of Essential Utilities by 1.3% in the first quarter. Community Bank N.A. now owns 23,928 shares of the company’s stock worth $946,000 after purchasing an additional 304 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Essential Utilities by 27.6% in the first quarter. Truvestments Capital LLC now owns 1,406 shares of the company’s stock worth $56,000 after purchasing an additional 304 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in Essential Utilities by 1.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 32,175 shares of the company’s stock valued at $1,272,000 after acquiring an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG opened at $38.59 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 1.13. The business has a 50-day simple moving average of $38.42 and a two-hundred day simple moving average of $38.53. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 3.56 and a beta of 0.82. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week high of $41.65.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. The business had revenue of $514.91 million during the quarter, compared to analysts’ expectations of $462.70 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 18.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.3426 dividend. The ex-dividend date was Tuesday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.33. This represents a $1.37 dividend on an annualized basis and a yield of 3.6%. Essential Utilities’s dividend payout ratio (DPR) is currently 58.80%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WTRG. Barclays began coverage on Essential Utilities in a research report on Thursday. They set an “overweight” rating and a $42.00 price objective for the company. UBS Group upped their price objective on Essential Utilities from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Wall Street Zen upgraded Essential Utilities from a “sell” rating to a “hold” rating in a research report on Sunday, August 31st. Robert W. Baird upped 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. Finally, Zacks Research cut Essential Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

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.