abrdn plc Grows Position in Essential Utilities, Inc. (NYSE:WTRG)

abrdn plc grew its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 76.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 175,721 shares of the company's stock after acquiring an additional 76,091 shares during the period. abrdn plc owned 0.06% of Essential Utilities worth $6,337,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Friedenthal Financial bought a new position in Essential Utilities in the third quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Essential Utilities in the third quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new position in Essential Utilities in the third quarter worth approximately $28,000. First Horizon Advisors Inc. raised its position in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after acquiring an additional 294 shares during the period. Finally, Truvestments Capital LLC bought a new position in Essential Utilities in the third quarter worth approximately $42,000. 74.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WTRG has been the topic of several recent research reports. Robert W. Baird increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. UBS Group decreased 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 report on Tuesday, January 14th. Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective on the stock in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company downgraded shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Essential Utilities currently has an average rating of "Moderate Buy" and an average target price of $43.00.

Essential Utilities Price Performance

WTRG traded up $0.34 during trading on Wednesday, hitting $35.75. 1,674,442 shares of the company traded hands, compared to its average volume of 1,435,334. The company has a market cap of $9.82 billion, a PE ratio of 17.88, a P/E/G ratio of 2.53 and a beta of 0.86. The stock's 50-day simple moving average is $36.06 and its two-hundred day simple moving average is $38.16. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a dividend of $0.3255 per share. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a yield of 3.64%. Essential Utilities's payout ratio is 65.00%.

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.