Allworth Financial LP Buys 184,258 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Allworth Financial LP grew its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 6,305.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 187,180 shares of the company's stock after buying an additional 184,258 shares during the period. Allworth Financial LP owned approximately 0.07% of Essential Utilities worth $6,291,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WTRG. Pathway Financial Advisers LLC raised its position in shares of Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company's stock valued at $48,424,000 after buying an additional 1,227,010 shares during the last quarter. Boston Trust Walden Corp raised its position in Essential Utilities by 117.3% in the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company's stock worth $75,701,000 after purchasing an additional 1,059,320 shares in the last quarter. Nordea Investment Management AB raised its position in Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock worth $247,134,000 after purchasing an additional 972,803 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Essential Utilities in the third quarter worth about $30,842,000. Finally, JPMorgan Chase & Co. raised its position in Essential Utilities by 33.1% in the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company's stock worth $36,795,000 after purchasing an additional 237,096 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Price Performance

Shares of NYSE WTRG traded up $0.43 during mid-day trading on Thursday, hitting $35.95. 1,695,828 shares of the stock were exchanged, compared to its average volume of 1,414,974. The company has a market cap of $9.87 billion, a P/E ratio of 17.97, a PEG ratio of 2.55 and a beta of 0.86. The stock's fifty day simple moving average is $35.64 and its two-hundred day simple moving average is $37.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's payout ratio is 65.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on WTRG. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target for the company in a research report on Tuesday, January 28th. 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 dropped their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.00.

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.