Alpine Woods Capital Investors LLC Sells 27,062 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Alpine Woods Capital Investors LLC reduced its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 30.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,108 shares of the company's stock after selling 27,062 shares during the period. Alpine Woods Capital Investors LLC's holdings in Essential Utilities were worth $2,256,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Essential Utilities during the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new position in shares of Essential Utilities during the 3rd quarter valued at about $28,000. First Horizon Advisors Inc. increased its holdings in shares of Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after acquiring an additional 294 shares during the last quarter. IFP Advisors Inc increased 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 valued at $40,000 after acquiring an additional 473 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Essential Utilities during the 3rd quarter valued at about $42,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

Shares of WTRG stock traded down $0.16 during mid-day trading on Tuesday, reaching $39.70. The stock had a trading volume of 1,207,725 shares, compared to its average volume of 1,366,172. The firm's 50 day simple moving average is $36.27 and its 200 day simple moving average is $37.83. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The firm has a market cap of $10.91 billion, a PE ratio of 19.85, a P/E/G ratio of 2.57 and a beta of 0.79.

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

Essential Utilities Dividend Announcement

The business 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 dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.28%. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WTRG. 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 note on Tuesday, January 28th. Evercore ISI increased their target price on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Wells Fargo & Company increased their target price on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Finally, UBS Group decreased their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.