Essential Utilities, Inc. (NYSE:WTRG) Announces $0.33 Quarterly Dividend

Essential Utilities, Inc. (NYSE:WTRG) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Tuesday, May 13th will be given a dividend of 0.3255 per share on Monday, June 2nd. This represents a $1.30 annualized dividend and a yield of 3.62%. The ex-dividend date is Tuesday, May 13th.

Essential Utilities has raised its dividend payment by an average of 6.8% per year over the last three years and has increased its dividend every year for the last 32 years. Essential Utilities has a dividend payout ratio of 58.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Essential Utilities to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 61.0%.

Essential Utilities Stock Performance

Essential Utilities stock opened at $35.95 on Friday. The stock’s 50 day moving average price is $35.58 and its 200 day moving average price is $37.94. The firm has a market capitalization of $9.87 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities has a one year low of $33.18 and a one year high of $41.78.

Wall Street Analyst Weigh In

WTRG has been the topic of several recent research reports. Robert W. Baird boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lowered Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Finally, UBS Group cut their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.