Secure Asset Management LLC acquired a new position in shares of Essential Utilities, Inc. (NYSE:WTRG – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 34,942 shares of the company’s stock, valued at approximately $1,305,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WTRG. LPL Financial LLC increased its position in Essential Utilities by 14.2% during the third quarter. LPL Financial LLC now owns 235,841 shares of the company’s stock worth $8,096,000 after buying an additional 29,372 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Essential Utilities by 94.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 81,799 shares of the company’s stock valued at $2,808,000 after purchasing an additional 39,643 shares during the period. Mariner LLC lifted its stake in shares of Essential Utilities by 9.9% in the 3rd quarter. Mariner LLC now owns 34,360 shares of the company’s stock valued at $1,180,000 after purchasing an additional 3,104 shares during the period. Vanguard Group Inc. boosted its position in shares of Essential Utilities by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,168,585 shares of the company’s stock valued at $932,698,000 after purchasing an additional 99,560 shares in the last quarter. Finally, Covea Finance grew its stake in Essential Utilities by 100.0% during the fourth quarter. Covea Finance now owns 96,000 shares of the company’s stock worth $3,586,000 after purchasing an additional 48,000 shares during the period. Institutional investors own 74.78% of the company’s stock.
Essential Utilities Stock Up 0.7 %
Shares of WTRG stock traded up $0.25 during trading hours on Friday, reaching $37.05. The company had a trading volume of 1,283,866 shares, compared to its average volume of 1,815,454. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $45.29. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.62 and a quick ratio of 0.48. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 3.34 and a beta of 0.81. The business has a fifty day simple moving average of $35.89 and a 200-day simple moving average of $35.70.
Essential Utilities (NYSE:WTRG – Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $479.40 million for the quarter, compared to analysts’ expectations of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The firm’s quarterly revenue was down 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, research analysts expect that Essential Utilities, Inc. will post 2 earnings per share for the current fiscal year.
Essential Utilities Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.3071 per share. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. This represents a $1.23 dividend on an annualized basis and a yield of 3.32%. Essential Utilities’s payout ratio is presently 66.13%.
Analyst Upgrades and Downgrades
Separately, Evercore ISI dropped their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.00.
Get Our Latest Analysis on WTRG
About Essential Utilities
Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.
Further Reading
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