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Ray DalioHeld
Bridgewater Associates · Q2 2026
$2.97M
77.55K shares · 0.0% of portfolio
Essential Utilities, Inc.
Essential Utilities, Inc. (WTRG) is listed on NYSE and classified in Utilities - Regulated Water, part of the Utilities sector. It is headquartered in Bryn Mawr, United States and has 3,303 employees. The company is worth $12.28B and trades at 20.8x its earnings of the last twelve months; the median for its sector is 20.5x. Revenue was $2.47B in fiscal 2025, up 18.6% from the year before. Net income was $616.37M. The share price is within 3% of its 52-week high. It pays a dividend yielding 3.33%, and has raised its annual dividend for 28 years in a row in our records. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Israel Englander (Millennium Management), at $159.1M. In that quarter, 5 of them opened or added to the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -13.6% over 5Y.
today you would have $1,013.01▲ +1.3%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 19 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $38.36 | $36.32 | $37.35 | $47.73 | $53.69 | $47.29 | $46.94 | $34.19 | $39.23 | $30.04 | $29.80 | $26.70 | $23.59 | $20.34 | $17.64 | $17.98 | $14.01 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 14.5% a year plus a 3.3% dividend yield. Growth capped at 25%.
Median P/E of 20.5 among peers in the sector.
Median P/E of 25.0 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Sector median of 13.3x operating profit, less net debt. Banks have no EBITDA.
Dividend growing 5.6% a year against a 7.1% required return, from the stock’s beta.
Companies of similar size in Utilities, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| PNWPinnacle West Capital Corp | $106.61 | 19.9x | 1.8x | 3.41% | 9.37% | $12.92B |
| KEPKorea Electric Power Corp | $10.63 | 2.5x | 0.4x | 4.89% | 16.59% | $13.65B |
| BEPBrookfield Renewable Partners L.P. | $28.40 | — | 2.3x | 5.53% | 0.40% | $13.82B |
| AESAES Corp | $14.97 |
| $16.47 |
| $16.96 |
| P/E | 25.0x | 17.4x | 16.7x | 20.1x | 27.0x | 32.1x | 42.2x | 45.1x | 31.7x | 29.1x | 22.8x | 26.1x | 20.4x | 18.9x | 18.2x | 21.3x | 25.0x | 23.0x | 28.2x | 29.9x |
| P/S | 5.5x | 4.4x | 4.8x | 5.0x | 5.5x | 7.2x | 7.9x | 11.8x | 7.3x | 8.6x | 6.5x | 6.5x | 6.1x | 5.5x | 4.8x | 4.5x | 4.7x | 3.9x | 4.9x | 5.0x |
| P/B | 2.6x | 1.6x | 1.6x | 1.7x | 2.3x | 2.6x | 2.5x | 2.7x | 3.0x | 3.6x | 2.9x | 3.1x | 2.9x | 2.7x | 2.6x | 2.4x | 2.6x | 2.2x | 2.6x | 2.9x |
| EPS | $2.20 | $2.17 | $1.86 | $1.77 | $1.67 | $1.12 | $1.04 | $1.08 | $1.35 | $1.32 | $1.14 | $1.31 | $1.25 | $1.12 | $0.83 | $0.72 | $0.61 | $0.58 | $0.57 |
| Dividend yield | 2.48% | 3.49% | 3.49% | 3.18% | 2.33% | 1.93% | 2.05% | 1.93% | 2.48% | 2.02% | 2.46% | 2.30% | 2.37% | 2.48% | 2.64% | 2.86% | 2.62% | 3.14% | 2.48% | 2.26% |
| Payout | 62.16% | 60.82% | 58.34% | 63.87% | 62.71% | 62.16% | 86.61% | 87.12% | 78.52% | 58.67% | 55.91% | 60.18% | 48.40% | 46.72% | 47.86% | 60.72% | 65.56% | 72.13% | 69.86% | 67.61% |
| Profit margin | 24.26% | 24.91% | 28.54% | 24.26% | 20.33% | 22.98% | 19.47% | 25.24% | 22.91% | 29.61% | 28.56% | 24.78% | 29.91% | 29.05% | 26.18% | 21.02% | 18.96% | 17.11% | 17.09% | 16.77% |
| ROE | 9.60% | 8.99% | 9.60% | 8.45% | 8.65% | 8.33% | 6.08% | 5.79% | 9.55% | 12.25% | 12.66% | 11.69% | 14.09% | 14.42% | 14.19% | 11.43% | 10.56% | 9.41% | 9.25% | 9.73% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+30.7% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 5.6x |
| 2.2x |
| 4.68% |
| 9.57% |
| $10.68B |
| ELPCEnergy Co of Parana | $13.97 | 17.2x | 9.4x | 1.36% | 12.76% | $10.37B |
| EMAEmera Inc | $47.72 | 20.8x | 1.6x | 4.38% | 7.56% | $14.66B |
