Essential Utilities Inc. $WTRG Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC cut its stake in Essential Utilities Inc. (NYSE:WTRG) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,905 shares of the company’s stock after selling 2,421 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Essential Utilities were worth $1,111,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC raised its position in Essential Utilities by 24.7% in the first quarter. New Age Alpha Advisors LLC now owns 1,531 shares of the company’s stock valued at $61,000 after purchasing an additional 303 shares during the period. Truvestments Capital LLC lifted 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 acquiring an additional 304 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Essential Utilities by 1.0% in 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 buying an additional 307 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in Essential Utilities by 2.0% in the first quarter. Wealthspire Advisors LLC now owns 16,322 shares of the company’s stock valued at $645,000 after buying an additional 327 shares during the last quarter. Finally, HM Payson & Co. increased its holdings in Essential Utilities by 0.3% in the first quarter. HM Payson & Co. now owns 115,963 shares of the company’s stock valued at $4,584,000 after buying an additional 334 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $41.30 on Friday. The company’s fifty day moving average is $39.04 and its two-hundred day moving average is $38.65. 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 12-month low of $33.18 and a 12-month high of $41.70. The company has a market cap of $11.58 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 4.30 and a beta of 0.82.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share for the quarter, topping 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 business had revenue of $514.91 million for the quarter, compared to the consensus estimate of $462.70 million. During the same period in the prior year, the business posted $0.28 earnings per share. Essential Utilities’s revenue for the quarter 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 analysts expect that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.3426 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 12th. Essential Utilities’s dividend payout ratio (DPR) is currently 58.80%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research lowered Essential Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Barclays boosted their price objective on Essential Utilities from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Wall Street Zen upgraded Essential Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Jefferies Financial Group upped their target price on Essential Utilities from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, UBS Group increased 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. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.17.

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.