Welcome to our dedicated page for Essential Utilities news (Ticker: WTRG), a resource for investors and traders seeking the latest updates and insights on Essential Utilities stock.
Essential Utilities, Inc. (symbol: WTRG) is a key player in the United States utility sector, providing regulated water and wastewater services. Operating through its various subsidiaries, the company serves around three million residential, commercial, industrial, and municipal customers across multiple states including Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, and Virginia.
Headquartered in Bryn Mawr, Pennsylvania, Essential Utilities' history dates back to 1886, formerly known as Aqua America, Inc. The company underwent a rebranding in February 2020 to become Essential Utilities, Inc. The firm has a significant footprint in Pennsylvania, where nearly three-fourths of its water earnings are generated, primarily from suburban Philadelphia.
In addition to traditional water services, Essential Utilities provides non-utility raw water supply services to companies in the natural gas drilling industry. It also offers water and sewer line protection solutions and repair services to households through third-party agreements. Its Peoples subsidiary extends the company's reach into the natural gas sector, serving over 740,000 customers in Pennsylvania and Kentucky.
Over the years, Essential Utilities has consistently prioritized sustainable practices and infrastructure improvements. Recent projects include upgrading water treatment facilities and expanding service coverage to underserved areas. Financially, the company maintains a stable outlook supported by strong regulatory frameworks and long-term contracts.
Essential Utilities has also established several partnerships to enhance service delivery and operational efficiency. These partnerships allow the company to innovate and implement cutting-edge technologies in water treatment and distribution. Through these efforts, Essential Utilities continues to play a crucial role in ensuring access to safe and reliable water and wastewater services.
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
The board of directors of Essential Utilities (NYSE: WTRG) has declared a quarterly cash dividend of
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
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.
Essential Utilities Inc. (NYSE: WTRG) plans to release its earnings for the quarter ending September 30, 2021, before market opening on November 1, 2021. A conference call for financial analysts is scheduled for the same day at 11 a.m. EDT, which will be available for live streaming on their website. The call will also be archived for 90 days, with an audio replay accessible starting at 2 p.m. on November 1 for 10 business days. Essential operates in water, wastewater, and natural gas sectors, serving approximately 5 million customers across 10 states.
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