8,266 Shares in Essential Utilities, Inc. (NYSE:WTRG) Bought by Allstate Corp

Allstate Corp bought a new position in 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 bought 8,266 shares of the company's stock, valued at approximately $300,000.

Several other institutional investors have also recently bought and sold shares of the stock. Cerity Partners LLC boosted its stake in Essential Utilities by 17.3% in the third quarter. Cerity Partners LLC now owns 36,201 shares of the company's stock valued at $1,396,000 after acquiring an additional 5,347 shares during the last quarter. Townsquare Capital LLC acquired a new position in shares of Essential Utilities in the 3rd quarter valued at $204,000. Captrust Financial Advisors boosted its position in shares of Essential Utilities by 43.3% in the 3rd quarter. Captrust Financial Advisors now owns 17,981 shares of the company's stock worth $694,000 after purchasing an additional 5,432 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Essential Utilities during the third quarter worth $499,000. Finally, Centiva Capital LP bought a new stake in Essential Utilities in the third quarter valued at about $400,000. Institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Down 3.1 %

WTRG traded down $1.21 during trading on Monday, reaching $38.35. The company had a trading volume of 3,404,605 shares, compared to its average volume of 1,475,283. The company has a market cap of $10.57 billion, a P/E ratio of 19.18, a PEG ratio of 2.57 and a beta of 0.80. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The business's fifty day moving average price is $37.62 and its 200 day moving average price is $37.83.

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

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is presently 59.91%.

Wall Street Analyst Weigh In

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

Essential Utilities Company 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.