Nissay Asset Management Corp Japan ADV Grows Stock Holdings in Essential Utilities Inc. $WTRG

Nissay Asset Management Corp Japan ADV grew its holdings in Essential Utilities Inc. (NYSE:WTRG) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,175 shares of the company’s stock after purchasing an additional 307 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Essential Utilities were worth $1,272,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas purchased a new position in Essential Utilities in the 1st quarter worth approximately $1,507,000. Wealthcare Advisory Partners LLC lifted its stake in Essential Utilities by 8.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company’s stock worth $998,000 after purchasing an additional 1,867 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Essential Utilities by 14.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company’s stock worth $386,000 after purchasing an additional 1,218 shares in the last quarter. Brighton Jones LLC purchased a new position in Essential Utilities in the 4th quarter worth approximately $638,000. Finally, Envestnet Asset Management Inc. lifted its stake in Essential Utilities by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company’s stock worth $4,239,000 after purchasing an additional 4,015 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Down 0.2%

Essential Utilities stock opened at $38.29 on Wednesday. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.65. 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 has a 50 day moving average price of $38.18 and a 200 day moving average price of $38.62. The company has a market capitalization of $10.74 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 3.52 and a beta of 0.83.

Essential Utilities (NYSE:WTRG) last posted 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. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The firm had revenue of $514.91 million during the quarter, compared to the consensus estimate of $462.70 million. During the same quarter last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. Research analysts expect that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.3426 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 12th. This represents a $1.37 annualized dividend and a yield of 3.6%. Essential Utilities’s payout ratio is 58.80%.

Analysts Set New Price Targets

WTRG has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 4th. Wall Street Zen upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, August 31st. Zacks Research downgraded shares of Essential Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Finally, UBS Group raised their price target on shares of Essential Utilities from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Essential Utilities Company 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.