203,264 Shares in Essential Utilities, Inc. (NYSE:WTRG) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 203,264 shares of the company's stock, valued at approximately $7,383,000. Raymond James Financial Inc. owned approximately 0.07% of Essential Utilities at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its position in shares of Essential Utilities by 1.2% during the 4th quarter. Blair William & Co. IL now owns 24,652 shares of the company's stock worth $895,000 after buying an additional 285 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Essential Utilities by 4.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company's stock worth $230,000 after acquiring an additional 289 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Essential Utilities by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company's stock valued at $2,546,000 after purchasing an additional 300 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of Essential Utilities by 1.7% during the 4th quarter. Rothschild Investment LLC now owns 19,527 shares of the company's stock valued at $709,000 after purchasing an additional 317 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Essential Utilities by 7.2% during the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company's stock worth $180,000 after purchasing an additional 332 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Trading Down 0.5 %

Shares of WTRG stock opened at $40.97 on Thursday. The company has a market cap of $11.29 billion, a P/E ratio of 20.49, a PEG ratio of 2.57 and a beta of 0.80. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The stock has a 50 day simple moving average of $38.73 and a two-hundred day simple moving average of $37.94.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.18%. Essential Utilities's payout ratio is 59.91%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WTRG. UBS Group decreased their target price on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. Evercore ISI boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $43.50.

Essential Utilities Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.