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ESSENTIAL UTILITIES, INC.

(WTRG)
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Essential Utilities to Buy City of Beaver Falls Municipal Wastewater Assets

10/21/2021 | 08:10am EST

By Michael Dabaie

Essential Utilities Inc. said its Pennsylvania wastewater subsidiary agreed to acquire the city of Beaver Falls's wastewater assets for about $41.25 million.

The publicly traded water, wastewater service and natural gas provider said the pending fair market value transaction is subject to Pennsylvania Public Utility Commission approval.

Beaver Falls' wastewater system serves about 7,600 customer-equivalents, including residential and commercial connections. The city currently provides sewer service to customers of Beaver Falls and seven outlying municipalities.

Essential Utilities said it anticipates the need for about $10 million in infrastructure improvements over the next decade with a focus on safety, security and treatment plant upgrades.

Beaver Falls is the fifth asset-purchase agreement executed by Essential's Aqua companies in 2021.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

10-21-21 0809ET

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Analyst Recommendations on ESSENTIAL UTILITIES, INC.
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Financials (USD)
Sales 2021 1 836 M - -
Net income 2021 432 M - -
Net Debt 2021 5 893 M - -
P/E ratio 2021 29,0x
Yield 2021 2,15%
Capitalization 12 253 M 12 253 M -
EV / Sales 2021 9,88x
EV / Sales 2022 9,32x
Nbr of Employees 3 180
Free-Float 98,6%
Chart ESSENTIAL UTILITIES, INC.
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Essential Utilities, Inc. Technical Analysis Chart | WTRG | US29670G1022 | MarketScreener
Technical analysis trends ESSENTIAL UTILITIES, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 48,48 $
Average target price 53,23 $
Spread / Average Target 9,80%
EPS Revisions
Managers and Directors
Christopher H. Franklin Chairman, President & Chief Executive Officer
Dan J. Schuller Chief Financial Officer & Executive Vice President
Richard S. Fox Chief Operating Officer & Executive Vice President
Susan F. Haindl Chief Administrative Officer & Senior VP
Ellen T. Ruff Independent Director