Barclays PLC reduced its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 352,021 shares of the company's stock after selling 30,930 shares during the period. Barclays PLC owned 0.13% of Essential Utilities worth $13,578,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Friedenthal Financial bought a new stake in Essential Utilities in the third quarter valued at $25,000. Brooklyn Investment Group purchased a new stake in shares of Essential Utilities in the 3rd quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in shares of Essential Utilities during the 3rd quarter valued at about $28,000. First Horizon Advisors Inc. increased its position in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after buying an additional 294 shares during the period. Finally, Truvestments Capital LLC bought a new position in Essential Utilities in the third quarter worth about $42,000. 74.78% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have weighed in on WTRG shares. Robert W. Baird lifted their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Bank of America restated a "buy" rating and set a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. Wells Fargo & Company decreased their price objective on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Jefferies Financial Group lowered Essential Utilities from a "buy" rating to a "hold" rating and lowered their price objective for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.00.
Get Our Latest Report on Essential Utilities
Essential Utilities Stock Down 0.9 %
WTRG stock traded down $0.33 on Monday, reaching $38.36. 1,586,206 shares of the company traded hands, compared to its average volume of 1,509,991. The firm has a fifty day simple moving average of $39.34 and a 200-day simple moving average of $38.97. The company has a market cap of $10.53 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 3.06 and a beta of 0.85. Essential Utilities, Inc. has a one year low of $33.57 and a one year high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.
Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The firm had revenue of $435.30 million for the quarter, compared to analysts' expectations of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. Research analysts anticipate that Essential Utilities, Inc. will post 2.01 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, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.39%. Essential Utilities's dividend payout ratio is presently 65.00%.
Essential Utilities Profile
(
Free Report)
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.
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