What is Seaport Res Ptn’s Estimate for WTRG FY2024 Earnings?

Essential Utilities, Inc. (NYSE:WTRG) – Investment analysts at Seaport Res Ptn issued their FY2024 earnings estimates for Essential Utilities in a research note issued to investors on Monday, January 6th. Seaport Res Ptn analyst A. Storozynski expects that the company will post earnings per share of $1.92 for the year. The consensus estimate for Essential Utilities’ current full-year earnings is $2.01 per share.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS.

A number of other analysts have also recently issued reports on WTRG. Robert W. Baird lifted their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $43.00 to $39.00 in a research note on Tuesday. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and dropped their target price for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Finally, Bank of America reissued a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $43.20.

Essential Utilities Stock Down 0.8 %

WTRG stock opened at $35.00 on Thursday. The company has a 50 day moving average of $38.22 and a two-hundred day moving average of $38.83. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities has a 12-month low of $33.57 and a 12-month high of $41.78. The company has a market cap of $9.61 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 3.06 and a beta of 0.86.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio is 65.00%.

Institutional Trading of Essential Utilities

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Friedenthal Financial bought a new position in Essential Utilities during the 3rd quarter valued at about $25,000. Brooklyn Investment Group acquired a new position in Essential Utilities in the 3rd quarter worth $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities in the 3rd quarter valued at about $28,000. First Horizon Advisors Inc. grew its holdings in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities in the 3rd quarter valued at approximately $42,000. Institutional investors own 74.78% of the company’s stock.

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.