ABN Amro Investment Solutions Invests $8.19 Million in Essential Utilities Inc. $WTRG

ABN Amro Investment Solutions bought a new stake in Essential Utilities Inc. (NYSE:WTRG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 220,504 shares of the company’s stock, valued at approximately $8,190,000. ABN Amro Investment Solutions owned 0.08% of Essential Utilities as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WTRG. Brighton Jones LLC bought a new position in Essential Utilities in the 4th quarter valued at $638,000. Envestnet Asset Management Inc. boosted its stake in Essential Utilities by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company’s stock worth $4,239,000 after acquiring an additional 4,015 shares during the last quarter. Royal Bank of Canada raised its stake in Essential Utilities by 28.2% during the 1st quarter. Royal Bank of Canada now owns 498,669 shares of the company’s stock worth $19,713,000 after buying an additional 109,582 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Essential Utilities by 1.3% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 543,918 shares of the company’s stock valued at $20,201,000 after purchasing an additional 7,200 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Essential Utilities in the 1st quarter valued at about $879,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

Shares of WTRG opened at $39.07 on Thursday. The company has a market cap of $11.06 billion, a PE ratio of 16.77, a P/E/G ratio of 3.11 and a beta of 0.84. Essential Utilities Inc. has a one year low of $33.18 and a one year high of $42.37. The stock has a 50-day moving average of $39.31 and a 200-day moving average of $38.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Tuesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The company had revenue of $476.97 million for the quarter, compared to analysts’ expectations of $472.40 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.Essential Utilities’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, equities research analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.3426 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.37 annualized dividend and a dividend yield of 3.5%. Essential Utilities’s dividend payout ratio is currently 56.85%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WTRG. Zacks Research raised shares of Essential Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. UBS Group reaffirmed a “neutral” rating and issued a $45.00 price objective (down from $46.00) on shares of Essential Utilities in a report on Tuesday, October 28th. Wall Street Zen raised Essential Utilities from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Essential Utilities in a research note on Wednesday, October 8th. Finally, Robert W. Baird upped 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Essential Utilities currently has a consensus rating of “Hold” and a consensus price target of $44.57.

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.