Caisse Des Depots ET Consignations Makes New Investment in Essential Utilities, Inc. (NYSE:WTRG)

Caisse Des Depots ET Consignations bought a new position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,551 shares of the company's stock, valued at approximately $311,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its stake in shares of Essential Utilities by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company's stock worth $2,001,000 after acquiring an additional 803 shares during the period. Synergy Asset Management LLC raised its holdings in Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock worth $5,529,000 after purchasing an additional 71,222 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Essential Utilities by 16.7% in the 4th 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 during the period. Brighton Jones LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at $638,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Essential Utilities by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,871,932 shares of the company's stock worth $72,200,000 after buying an additional 149,162 shares during the period. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Up 0.5 %

Shares of WTRG traded up $0.18 during trading hours on Tuesday, reaching $39.71. The stock had a trading volume of 408,192 shares, compared to its average volume of 1,603,923. The firm has a 50-day simple moving average of $37.09 and a 200 day simple moving average of $37.81. 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 company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 19.87, 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 released its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Equities research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is currently 59.91%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group decreased their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. Evercore ISI boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

About Essential Utilities

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.