Voya Investment Management LLC Grows Stock Position in Essential Utilities Inc. $WTRG

Voya Investment Management LLC increased its stake in shares of Essential Utilities Inc. (NYSE:WTRG) by 13.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,762 shares of the company’s stock after buying an additional 8,234 shares during the quarter. Voya Investment Management LLC’s holdings in Essential Utilities were worth $2,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Boston Trust Walden Corp lifted its position in Essential Utilities by 16.5% during the first quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company’s stock worth $97,908,000 after buying an additional 349,904 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Essential Utilities by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,438,783 shares of the company’s stock valued at $96,405,000 after purchasing an additional 92,112 shares during the period. Maple Brown Abbott Ltd purchased a new stake in Essential Utilities in the first quarter valued at $94,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Essential Utilities by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,671 shares of the company’s stock valued at $85,231,000 after purchasing an additional 192,456 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in Essential Utilities by 6.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,166,797 shares of the company’s stock valued at $85,653,000 after purchasing an additional 123,786 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $37.08 on Friday. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 3.40 and a beta of 0.83. The stock has a 50 day simple moving average of $38.26 and a 200-day simple moving average of $38.59. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.65. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13.

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

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.3426 per share. 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 dividend on an annualized basis and a yield of 3.7%. Essential Utilities’s payout ratio is currently 58.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WTRG shares. UBS Group lifted their target price 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 lifted their target price 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 note on Monday, August 25th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.40.

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.