Candriam S.C.A. Cuts Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Candriam S.C.A. trimmed its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 348,481 shares of the company's stock after selling 8,964 shares during the quarter. Candriam S.C.A. owned approximately 0.13% of Essential Utilities worth $12,657,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Essential Utilities in the 3rd quarter worth about $26,000. Darwin Wealth Management LLC purchased a new position in shares of Essential Utilities in the third quarter worth about $28,000. First Horizon Advisors Inc. raised its position in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after purchasing an additional 294 shares during the period. Truvestments Capital LLC bought a new stake in shares of Essential Utilities in the third quarter valued at approximately $42,000. Finally, IFP Advisors Inc lifted its stake 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 buying an additional 473 shares in the last quarter. 74.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WTRG has been the subject of a number of recent research reports. Jefferies Financial Group upgraded 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 note on Tuesday, January 28th. Wells Fargo & Company boosted their price objective 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. Evercore ISI increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Finally, UBS Group reduced their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $43.50.

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Essential Utilities Price Performance

Shares of WTRG stock traded down $0.86 on Tuesday, reaching $39.72. The company's stock had a trading volume of 1,996,075 shares, compared to its average volume of 1,607,684. The company has a market capitalization of $10.92 billion, a P/E ratio of 19.86, a PEG ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock's 50 day simple moving average is $35.94 and its 200-day simple moving average 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 (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $604.38 million for the quarter, compared to analysts' expectations of $698.77 million. As a group, equities 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 announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 yield of 3.28%. Essential Utilities's 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.