American Century Companies Inc. Makes New Investment in Essential Utilities, Inc. (NYSE:WTRG)

American Century Companies Inc. bought a new stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 121,561 shares of the company's stock, valued at approximately $4,415,000.

Several other large investors also recently modified their holdings of the stock. Nordea Investment Management AB increased its stake 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 valued at $247,134,000 after acquiring an additional 972,803 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Essential Utilities by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company's stock worth $165,701,000 after buying an additional 82,456 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Essential Utilities by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,731,011 shares of the company's stock valued at $99,190,000 after buying an additional 175,707 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Essential Utilities by 4.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company's stock valued at $97,632,000 after acquiring an additional 100,990 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in Essential Utilities by 8.4% during the fourth quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company's stock worth $77,249,000 after acquiring an additional 164,215 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WTRG shares. Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company raised their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. StockNews.com upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group dropped their target price on 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, Evercore ISI boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities Trading Up 1.5 %

Shares of NYSE WTRG traded up $0.58 during trading on Thursday, reaching $38.34. The company had a trading volume of 2,298,285 shares, compared to its average volume of 1,488,606. The stock has a market cap of $10.56 billion, a P/E ratio of 19.17, a PEG ratio of 2.57 and a beta of 0.80. The company's fifty day moving average price is $37.84 and its 200-day moving average price is $37.82. 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 12 month low of $33.18 and a 12 month high of $41.78.

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, topping analysts' consensus estimates of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. As a group, research analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share 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 paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is presently 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.