Aigen Investment Management LP Trims Stake in Essential Utilities, Inc. (NYSE:WTRG)

Aigen Investment Management LP trimmed its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 77.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,781 shares of the company's stock after selling 23,254 shares during the quarter. Aigen Investment Management LP's holdings in Essential Utilities were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Essential Utilities in the 3rd quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in Essential Utilities during the third quarter worth approximately $28,000. First Horizon Advisors Inc. increased its holdings 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 purchasing an additional 294 shares in the last quarter. Truvestments Capital LLC acquired a new position in Essential Utilities in the third quarter valued at approximately $42,000. Finally, IFP Advisors Inc boosted its holdings in shares of Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after buying an additional 473 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WTRG shares. Wells Fargo & Company lifted their price target 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. UBS Group cut their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Evercore ISI boosted their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

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Essential Utilities Stock Up 1.4 %

Shares of NYSE:WTRG traded up $0.55 during mid-day trading on Thursday, hitting $39.10. 1,400,677 shares of the company traded hands, compared to its average volume of 1,590,465. The stock has a 50-day moving average price of $36.05 and a two-hundred day moving average price of $37.82. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock has a market cap of $10.75 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.57 and a beta of 0.79. 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 (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. On average, equities research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.33%. Essential Utilities's dividend payout ratio (DPR) is 59.91%.

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.