Zacks Research Equities Analysts Lower Earnings Estimates for Essential Utilities, Inc. (NYSE:WTRG)

Essential Utilities, Inc. (NYSE:WTRG) – Equities researchers at Zacks Research lowered their Q3 2024 earnings estimates for shares of Essential Utilities in a research note issued on Monday, August 26th. Zacks Research analyst R. Department now anticipates that the company will earn $0.23 per share for the quarter, down from their prior forecast 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). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The company had revenue of $434.40 million during the quarter, compared to the consensus estimate of $442.76 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. Essential Utilities’s revenue was down .5% on a year-over-year basis.

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

Essential Utilities Price Performance

Shares of WTRG opened at $38.58 on Wednesday. The company has a 50 day moving average price of $39.22 and a 200-day moving average price of $37.50. Essential Utilities has a fifty-two week low of $32.07 and a fifty-two week high of $41.78. The stock has a market capitalization of $10.55 billion, a PE ratio of 18.28, a PEG ratio of 3.52 and a beta of 0.83. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a dividend of $0.3255 per share. The ex-dividend date is Monday, August 12th. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a yield of 3.37%. Essential Utilities’s payout ratio is 61.61%.

Insiders Place Their Bets

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of Essential Utilities 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 transaction, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Essential Utilities

A number of institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers increased its position in shares of Essential Utilities by 5.8% during the second quarter. Cetera Investment Advisers now owns 51,561 shares of the company’s stock valued at $1,925,000 after acquiring an additional 2,811 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Essential Utilities by 2.2% in the second quarter. Pathway Financial Advisers LLC now owns 28,473 shares of the company’s stock valued at $1,062,000 after purchasing an additional 605 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Essential Utilities by 11.7% in the second quarter. EP Wealth Advisors LLC now owns 9,580 shares of the company’s stock valued at $358,000 after purchasing an additional 1,005 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Essential Utilities by 134.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,560 shares of the company’s stock valued at $282,000 after purchasing an additional 4,340 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of Essential Utilities in the second quarter valued at approximately $708,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

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.