Essential Utilities Inc Stock Price, News & Analysis

Essential Utilities (WTRG) reported strong 2021 results with a net income of $431.6 million, or $1.67 per share, a 51.6% increase from 2020. The company achieved total operating revenues of $1.88 billion, up 28.4% year-over-year. Essential's investments in infrastructure exceeded $1 billion, aimed at expanding utility services and enhancing customer experience. For 2022, the company expects net income per share guidance of $1.75 to $1.80 and continues to target long-term earnings growth of 5-7%. The firm remains committed to its environmental and social governance initiatives.

Essential Utilities Inc. (NYSE: WTRG) has signed an asset purchase agreement to acquire the Southern Oaks Water System in Freestone County, Texas, serving approximately 740 homes. This marks Aqua Texas's second acquisition under Texas's fair market value legislation. The company aims to close the acquisition in 2023, adding to its portfolio of eight signed agreements for water and wastewater systems, totaling over $471 million, which will benefit around 235,000 retail customers.

Essential Utilities Inc. (NYSE: WTRG) has announced its earnings guidance for 2022, projecting net income per diluted share between $1.75 and $1.80. The company is committed to investing $3 billion in infrastructure over three years, focusing on its regulated water segment. Additionally, Essential reaffirms its long-term earnings growth target of 5-7% CAGR through 2024, driven by water and gas customer growth of 2-3% and stable gas customer count for 2022. The company also aims to reduce greenhouse gas emissions by 60% by 2035.

The board of directors of Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of $0.2682 per share, set to be paid on March 1, 2022, to shareholders of record as of February 11, 2022.

With 77 years of consecutive dividend payments and 31 increases in the last 30 years, Essential underscores its commitment to shareholder returns. The company serves approximately 5 million people across 10 states, ensuring safe and reliable water and natural gas services.

Essential Utilities Inc. (NYSE: WTRG) has appointed Matt Deluhery as National Safety Director. Deluhery, with over 20 years of industry experience, previously served as Aqua's safety director since December 2019. His new role involves overseeing a strategic safety vision for water and gas businesses, ensuring safety compliance across the organization. Chief Environmental, Safety and Sustainability Officer Chris Crockett expressed confidence in Deluhery's capabilities to standardize safety programs, highlighting the company's strong commitment to safety.

Essential Utilities Inc. (NYSE: WTRG) announced a net income of $50.5 million for Q3 2021, down from $55.7 million in Q3 2020. Earnings per share were $0.19, while revenues increased by 3.8% to $361.9 million. The company reported year-to-date net income of $315.1 million ($1.23/share), up 51.9% from the previous year's adjusted income. Essential signed acquisition agreements for $468 million, bolstering its municipal wastewater services. It reaffirmed 2021 EPS guidance of $1.64 to $1.69 and plans to invest $1 billion in infrastructure this year.

The board of directors of Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of $0.2682 per share, payable on Dec. 1, 2021 to shareholders of record by Nov. 12, 2021. This marks the company's 76th consecutive quarterly dividend payment and its 31st increase in the last 30 years. Serving around 5 million customers in 10 states, Essential is committed to reliable water and natural gas services, emphasizing infrastructure investment and environmental stewardship.

Essential Utilities Inc. (NYSE: WTRG) has signed an asset purchase agreement with the City of Beaver Falls, Pennsylvania, to acquire its wastewater assets for approximately $41.25 million. This acquisition, which requires approval from the Pennsylvania Public Utility Commission, will enhance service for around 7,600 customer-equivalents. Essential plans to invest about $10 million in infrastructure improvements over the next decade. This agreement marks the company's first acquisition in Beaver County and adds to its portfolio of signed agreements totaling approximately $467.7 million.