Essential Utilities, Inc. (WTRG) To Go Ex-Dividend on May 13th

Essential Utilities, Inc. (NYSE:WTRG) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Tuesday, May 13th will be paid a dividend of 0.3255 per share on Monday, June 2nd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Tuesday, May 13th.

Essential Utilities has raised its dividend payment by an average of 6.8% annually over the last three years and has increased its dividend annually for the last 32 consecutive years. Essential Utilities has a dividend payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 1.7 %

WTRG stock opened at $36.58 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities has a 1 year low of $33.18 and a 1 year high of $41.78. The company has a fifty day simple moving average of $35.54 and a 200 day simple moving average of $37.92. The firm has a market cap of $10.04 billion, a PE ratio of 18.29, a PEG ratio of 2.57 and a beta of 0.86.

Wall Street Analyst Weigh In

Several research analysts recently commented on WTRG shares. Robert W. Baird lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group dropped their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.