Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,871,932 shares of the company's stock after buying an additional 149,162 shares during the period. Charles Schwab Investment Management Inc. owned about 0.68% of Essential Utilities worth $72,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in Essential Utilities by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,754,099 shares of the company's stock valued at $102,811,000 after acquiring an additional 9,822 shares in the last quarter. Tandem Investment Advisors Inc. grew its holdings in shares of Essential Utilities by 0.5% in the third quarter. Tandem Investment Advisors Inc. now owns 2,034,497 shares of the company's stock valued at $78,471,000 after purchasing an additional 10,560 shares in the last quarter. Boston Trust Walden Corp increased its stake in Essential Utilities by 117.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company's stock worth $75,701,000 after buying an additional 1,059,320 shares during the period. Empower Advisory Group LLC boosted its position in Essential Utilities by 5.6% in the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company's stock valued at $61,152,000 after buying an additional 84,596 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Essential Utilities by 18.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company's stock worth $56,002,000 after acquiring an additional 234,857 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

WTRG traded down $0.21 on Friday, reaching $40.07. The company had a trading volume of 638,545 shares, compared to its average volume of 1,525,061. The stock has a 50-day moving average price of $39.13 and a 200-day moving average price of $38.88. The stock has a market capitalization of $11.00 billion, a PE ratio of 20.14, a P/E/G ratio of 3.19 and a beta of 0.84. Essential Utilities, Inc. has a 1 year low of $33.57 and a 1 year high of $41.78. 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 announced its 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 firm had revenue of $435.30 million during 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 business's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. As a group, research analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Tuesday, November 12th. Essential Utilities's dividend payout ratio (DPR) is presently 65.00%.

Analysts Set New Price Targets

Several research firms recently commented on WTRG. Wells Fargo & Company lowered their target price on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Bank of America reiterated a "buy" rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Robert W. Baird boosted their target price 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. Jefferies Financial Group cut Essential Utilities from a "buy" rating to a "hold" rating and cut their price target for the company from $44.00 to $41.00 in a research note on Thursday, November 7th. Finally, Evercore ISI increased their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

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.