State Street Corp Maintains Passive Stake in Essential Utilities

TL;DR

**State Street still owns Essential Utilities stock, no big changes expected.**

AI Summary

State Street Corp, a major financial institution, filed an amended SC 13G/A on January 25, 2024, indicating its ownership of Essential Utilities Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, showing their continued significant, though passive, stake in Essential Utilities. This matters to investors because State Street's large holding suggests institutional confidence in Essential Utilities, but as a passive investor, they are unlikely to push for major strategic changes.

Why It Matters

This filing confirms a major institutional investor's continued confidence in Essential Utilities, which can be a positive signal for other investors, but also indicates no immediate activist pressure.

Risk Assessment

Risk Level: low — This is a routine update from a passive institutional investor and does not signal any immediate risks or major changes for the company.

Analyst Insight

Investors should view this as a routine update confirming institutional ownership, rather than a signal for immediate action. It reinforces the stability of Essential Utilities' shareholder base.

Key Players & Entities

• State Street Corp (company) — the reporting person and institutional investor
• Essential Utilities, Inc. (company) — the subject company whose stock is being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 25, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• State Street Corp will likely maintain its passive investment stance in Essential Utilities Inc. for the foreseeable future. (State Street Corp) — high confidence, target: 2025-12-31

FAQ

From the Filing

0000093751-24-000240.txt : 20240125 0000093751-24-000240.hdr.sgml : 20240125 20240125113032 ACCESSION NUMBER: 0000093751-24-000240 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240125 DATE AS OF CHANGE: 20240125 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Essential Utilities, Inc. CENTRAL INDEX KEY: 0000078128 STANDARD INDUSTRIAL CLASSIFICATION: WATER SUPPLY [4941] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 231702594 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-31978 FILM NUMBER: 24560148 BUSINESS ADDRESS: STREET 1: 762 W. LANCASTER AVE CITY: BRYN MAWR STATE: PA ZIP: 19010-3489 BUSINESS PHONE: 610-527-8000 MAIL ADDRESS: STREET 1: 762 W. LANCASTER AVE CITY: BRYN MAWR STATE: PA ZIP: 19010-3489 FORMER COMPANY: FORMER CONFORMED NAME: AQUA AMERICA INC DATE OF NAME CHANGE: 20040120 FORMER COMPANY: FORMER CONFORMED NAME: PHILADELPHIA SUBURBAN CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 Essential_Utilities_Inc.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 EXIT FILING ESSENTIAL UTILITIES INC (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 29670G102 (CUSIP NUMBER) 12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: (X) RULE 13D-1 (B) ( ) RULE 13D-1 (C) ( ) RULE 13D-1 (D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON`S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). CUSIP NO:29670G102 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 11,573,234 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 13,484,594 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,500,094 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 4.94% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 29670G102 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER ESSENTIAL UTILITIES INC (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 762 WEST LANCASTER AVENUE BRYN MAWR PA 19010 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE 1 BOSTON