Brighton Jones LLC Buys New Stake in Essential Utilities, Inc. (NYSE:WTRG)

Brighton Jones LLC purchased a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 17,563 shares of the company's stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WTRG. Friedenthal Financial bought a new position in shares of Essential Utilities in the third quarter valued at $25,000. Brooklyn Investment Group bought a new position in shares of Essential Utilities in the third quarter valued at approximately $26,000. Darwin Wealth Management LLC bought a new stake in Essential Utilities in the 3rd quarter valued at $28,000. First Horizon Advisors Inc. lifted its position in shares of Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after acquiring an additional 294 shares during the period. Finally, Truvestments Capital LLC bought a new stake in Essential Utilities in the 3rd quarter valued at $42,000. Institutional investors own 74.78% of the company's stock.

Essential Utilities Price Performance

Shares of WTRG traded down $0.11 during trading hours on Friday, reaching $33.49. 1,653,544 shares of the company's stock traded hands, compared to its average volume of 1,111,297. The firm's 50 day simple moving average is $37.09 and its 200-day simple moving average is $38.59. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock has a market cap of $9.20 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.86.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The company had revenue of $435.30 million during the quarter, compared to analysts' expectations of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Essential Utilities's revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. Equities analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The company also recently disclosed 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. This represents a $1.30 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Monday, February 10th. Essential Utilities's payout ratio is 65.00%.

Wall Street Analysts Forecast Growth

WTRG has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered Essential Utilities from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. Robert W. Baird raised their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. UBS Group lowered their target price on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group cut Essential Utilities from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Essential Utilities presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.