BRYN MAWR, Pa. - Essential Utilities Inc. (NYSE: NYSE:WTRG), a provider of water, wastewater, and natural gas services, announced the election of Christopher Bruner and Tamara Linde (NYSE:LIN) to its board of directors. The company revealed that Bruner will assume the role of chair for the audit committee and participate in the executive compensation committee, while Linde will contribute to the corporate governance committee and the risk mitigation and investment policy committee.
Christopher Bruner brings over three decades of experience from Ernst & Young (EY), where he currently holds the position of Assurance Partner. With a history of supporting public companies across various industries, Bruner is set to retire from EY in December 2024. His extensive background also includes leadership roles in civic and healthcare organizations.
Tamara Linde, recognized for her expertise in the legal and regulatory aspects of the energy sector, currently serves as Executive Vice President and General Counsel for Public Service Enterprise Group Incorporated (NYSE: NYSE:PEG). Linde's career spans over 30 years and encompasses a broad range of responsibilities in the energy industry.
The appointments of Bruner and Linde come as Essential Utilities continues to advocate for the communities it serves, emphasizing sustainable growth and operational excellence. The company, operating under the Aqua and Peoples brands, provides services to approximately 5.5 million people across nine states and is noted for its commitment to environmental stewardship and community support.
The information regarding the new board members is based on a press release statement from Essential Utilities Inc.
InvestingPro Insights
As Essential Utilities Inc. (NYSE: WTRG) welcomes new expertise to its board, the company’s financial health and market performance remain a focal point for investors. According to InvestingPro data, WTRG has a market capitalization of $10.2 billion and is trading with a Price/Earnings (P/E) ratio of 20.06. This valuation comes as the company faces a decline in revenue, with the last twelve months as of Q4 2023 showing a decrease of 10.24%. Despite these challenges, the company’s gross profit margin remains strong at 54.82%.
InvestingPro Tips highlight several key aspects of WTRG's financial standing. Notably, the company has raised its dividend for 31 consecutive years, with a current dividend yield of 3.3%. This commitment to returning value to shareholders is underscored by a 7.0% dividend growth in the last twelve months. On the flip side, the company is trading at a high P/E ratio relative to near-term earnings growth, which could be a point of caution for investors looking at the stock’s near-term performance. Additionally, WTRG's short-term obligations exceed its liquid assets, which may warrant attention regarding the company's liquidity position.
For investors seeking a deeper dive into WTRG's financials and future prospects, InvestingPro offers additional insights. There are 6 more InvestingPro Tips available, providing a comprehensive analysis of the company’s performance and potential investment opportunities. Interested readers can explore these tips and more by visiting https://www.investing.com/pro/WTRG and can take advantage of an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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