Q2 2024 EPS Estimates for Essential Utilities, Inc. (NYSE:WTRG) Decreased by Analyst

Essential Utilities, Inc. (NYSE:WTRG) – Research analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Essential Utilities in a research report issued on Thursday, May 23rd. Zacks Research analyst R. Department now anticipates that the company will earn $0.32 per share for the quarter, down from their prior forecast of $0.37. The consensus estimate for Essential Utilities’ current full-year earnings is $1.97 per share. Zacks Research also issued estimates for Essential Utilities’ Q4 2024 earnings at $0.47 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.45 EPS, Q3 2025 earnings at $0.32 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $2.11 EPS and FY2026 earnings at $2.19 EPS.

Other research analysts have also recently issued reports about the company. Robert W. Baird dropped their price target on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Evercore ISI lowered their target price on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Stock Up 0.3 %

Shares of WTRG opened at $37.24 on Friday. Essential Utilities has a 52 week low of $32.07 and a 52 week high of $43.26. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 3.40 and a beta of 0.80. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62. The stock has a fifty day moving average of $36.91 and a 200-day moving average of $36.39.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Thursday, May 2nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). The business had revenue of $612.07 million during the quarter, compared to analyst estimates of $747.44 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the transaction, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at approximately $488,368.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the completion of the sale, the chief accounting officer now directly owns 57,756 shares in the company, valued at approximately $2,149,100.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Robert A. Rubin sold 2,023 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the sale, the chief accounting officer now owns 13,358 shares of the company’s stock, valued at $488,368.48. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Essential Utilities

Large investors have recently made changes to their positions in the company. LPL Financial LLC grew its stake in shares of Essential Utilities by 14.2% in the 3rd quarter. LPL Financial LLC now owns 235,841 shares of the company’s stock valued at $8,096,000 after buying an additional 29,372 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Essential Utilities by 20.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,968 shares of the company’s stock valued at $4,624,000 after purchasing an additional 20,941 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Essential Utilities by 94.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 81,799 shares of the company’s stock valued at $2,808,000 after purchasing an additional 39,643 shares during the last quarter. Mariner LLC boosted its stake in Essential Utilities by 9.9% during the 3rd quarter. Mariner LLC now owns 34,360 shares of the company’s stock valued at $1,180,000 after purchasing an additional 3,104 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Essential Utilities during the 4th quarter valued at about $3,583,000. 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.