Essential Utilities
Operates regulated Aqua water systems and Peoples natural-gas distribution networks.
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Profile
Provides regulated water, wastewater and natural-gas services through Aqua and Peoples, with operations concentrated in the United States and especially Pennsylvania. Revenue is split between the Regulated Water and Regulated Natural Gas segments, while rates and acquisitions require utility-commission approval.
Provides regulated drinking water, wastewater collection and treatment, and natural-gas distribution through two reportable segments: Regulated Water and Regulated Natural Gas. Aqua and Peoples remain the customer-facing brands, alongside municipal operations-and-maintenance contracts and service-line protection programs.
Operates entirely in the United States, with the customer base concentrated in Pennsylvania. Water and wastewater systems span multiple states, while the gas network is centered in western Pennsylvania and Kentucky. Acquiring municipal systems has been a recurring way to expand the utility footprint.
Execution depends on infrastructure replacement, reliable service, environmental compliance, and public-utility commission approval of rates and acquisitions. A proposed merger into American Water remains pending and requires additional regulatory and antitrust clearances.
Company facts
Key statistics
Year to date +6.3% · Average volume (30d) 2.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 15, 2026 | Barclays | Reiterate | Underweight | $38 | $40 | |
| Jul 2, 2026 | UBS | Reiterate | Buy | $43 | $46 | |
| May 29, 2026 | UBS | Upgrade | Neutral | Buy | $41 | $43 |
| May 7, 2026 | UBS | Target | $45 | $41 | ||
| Dec 17, 2025 | Barclays | Downgrade | Overweight | Underweight | $43 | $38 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.37 | $0.38 | +2.3% | $538.9M | $530.9M | −1.5% | +0.08% |
| May 6, 2026Q1 FY26 | $1.01 | $0.83 | −17.8% | $782.9M | $861.8M | +10.1% | +0.43% |
| Feb 25, 2026Q4 FY25 | $0.36 | $0.47 | +30.6% | $611.6M | $699.1M | +14.3% | −0.30% |
| Nov 4, 2025Q3 FY25 | $0.28 | $0.33 | +16.5% | $472.4M | $477.0M | +1.0% | +3.33% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $783.6M | $514.9M | $477.0M | $699.1M | $861.8M | $530.9M | |
| Gross profit | $461.2M | $309.7M | $301.0M | $251.5M | $336.6M | $484.7M | |
| Operating income | $338.9M | $185.3M | $169.8M | $227.0M | $310.6M | $193.3M | |
| Net income | $283.8M | $107.8M | $92.1M | $132.7M | $224.4M | $105.7M | |
| Diluted EPS | $1.03 | $0.38 | $0.33 | $0.47 | $0.79 | $0.37 | |
| Gross margin | 58.8% | 60.1% | 63.1% | 36.0% | 39.1% | 91.3% | |
| Operating margin | 43.2% | 36.0% | 35.6% | 32.5% | 36.0% | 36.4% |
Fiscal years (4-quarter sums)FY21 $1.88B · FY22 $2.29B · FY23 $2.05B · FY24 $2.09B · FY25 $2.47B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $8.6M · Total debt $8.52B · Total assets $19.94B · Shareholders' equity $7.02B
Dividends
Raised for 38 straight years — most recently to $0.3606 from $0.3426 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 11, 2026 | Aug 11 | Sep 1 | $0.3606 | raised from $0.3426 |
| May 12, 2026 | May 12 | Jun 1 | $0.3426 | |
| Feb 9, 2026 | Feb 9 | Mar 2 | $0.3426 | |
| Nov 12, 2025 | Nov 12 | Dec 1 | $0.3426 | |
| Aug 12, 2025 | Aug 12 | Sep 2 | $0.3426 | raised from $0.3255 |
| May 13, 2025 | May 13 | Jun 2 | $0.3255 | |
| Feb 10, 2025 | Feb 10 | Mar 3 | $0.3255 | |
| Nov 12, 2024 | Nov 12 | Dec 2 | $0.3255 |
Ownership
Shares outstanding 283.63M · Float 282.70M · 99.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 33.43M | 11.79% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 16.34M | 5.76% | 13F | Aug 13, 2026 |
| State Street Corp | 13.12M | 4.63% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 12.78M | 4.51% | 13F | Aug 13, 2026 |
| Norges Bank | 6.49M | 2.29% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Colleen Arnold | officer: President - Aqua | −2,855 | $39.55 |
Peers
- American Water Works
Largest water/wastewater overlap and municipal-acquisition rival
- UGI
Pennsylvania gas-distribution peer with a similar regulated utility base
- National Fuel Gas
Western Pennsylvania gas utility with the closest geographic overlap
- H2O America
Texas water and wastewater overlap with an active acquisition strategy
- Middlesex Water
Focused New Jersey water utility with wastewater and contract overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Essential Utilities | $41.25 | +0.39% | $11.66B | 21.0 | 17.8 | 4.5 | +3.1% |
| American Water Works | $134.88 | −2.46% | $27.48B | 23.9 | 22.6 | 5.2 | +6.2% |
| UGI | $38.01 | −0.03% | $8.15B | 12.7 | 13.0 | 1.1 | −4.5% |
| National Fuel Gas | $82.97 | +0.02% | $7.89B | 11.5 | 11.0 | 3.1 | +1.1% |
| H2O America | $63.02 | −0.83% | $2.66B | 22.4 | 23.2 | 3.2 | +6.2% |
| Middlesex Water | $57.66 | −1.35% | $1.10B | 22.5 | 22.2 | 5.3 | +14.3% |
| Median | 22.4 | 22.2 | 3.2 | +6.2% |