Zacks Research Comments on Essential Utilities, Inc.’s Q3 2024 Earnings (NYSE:WTRG)

Essential Utilities, Inc. (NYSE:WTRG) – Stock analysts at Zacks Research reduced their Q3 2024 EPS estimates for Essential Utilities in a research report issued on Monday, August 26th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $0.23 per share for the quarter, down from their prior estimate of $0.25. The consensus estimate for Essential Utilities’ current full-year earnings is $1.96 per share. Zacks Research also issued estimates for Essential Utilities’ Q1 2026 earnings at $0.89 EPS and FY2026 earnings at $2.20 EPS.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS.

Several other equities analysts also recently issued reports on WTRG. Robert W. Baird upped their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $38.94 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. Essential Utilities has a 12 month low of $32.07 and a 12 month high of $41.78. The company has a market cap of $10.65 billion, a P/E ratio of 18.45, a PEG ratio of 3.52 and a beta of 0.83. The firm has a fifty day moving average price of $39.14 and a 200 day moving average price of $37.47.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a dividend of $0.3255 per share. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, August 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.34%. Essential Utilities’s dividend payout ratio is 61.61%.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,342 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.43, for a total transaction of $87,661.06. Following the completion of the sale, the chief accounting officer now owns 53,391 shares in the company, valued at $1,998,425.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new position in Essential Utilities during the fourth quarter worth about $25,000. Tradewinds Capital Management LLC raised its holdings in Essential Utilities by 857.5% during the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after purchasing an additional 626 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in Essential Utilities by 52.9% during the fourth quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock worth $36,000 after purchasing an additional 338 shares in the last quarter. Quest Partners LLC purchased a new position in Essential Utilities during the fourth quarter worth about $36,000. Finally, Tradition Wealth Management LLC raised its holdings in Essential Utilities by 246.0% during the fourth quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock worth $36,000 after purchasing an additional 679 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

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.