Charles Schwab Investment Management Inc. Boosts Position in Essential Utilities, Inc. (NYSE:WTRG)

Charles Schwab Investment Management Inc. raised its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,071,868 shares of the company's stock after buying an additional 199,936 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of Essential Utilities worth $75,250,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of Essential Utilities by 81.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company's stock worth $44,000 after buying an additional 515 shares during the last quarter. QRG Capital Management Inc. increased its position in Essential Utilities by 16.7% during the third quarter. QRG Capital Management Inc. now owns 14,001 shares of the company's stock worth $540,000 after buying an additional 1,999 shares during the period. Assetmark Inc. acquired a new stake in shares of Essential Utilities in the third quarter valued at approximately $187,000. Versor Investments LP grew its position in Essential Utilities by 22.7% during the 3rd quarter. Versor Investments LP now owns 28,679 shares of the company's stock worth $1,106,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Essential Utilities by 6.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 510,053 shares of the company's stock worth $19,673,000 after buying an additional 29,461 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

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Essential Utilities Trading Up 1.0 %

WTRG stock traded up $0.40 during midday trading on Friday, hitting $39.54. The stock had a trading volume of 1,326,802 shares, compared to its average volume of 1,387,865. The company's 50-day moving average price is $36.12 and its 200 day moving average price is $37.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The firm has a market cap of $10.87 billion, a PE ratio of 19.77, a price-to-earnings-growth 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 $41.82.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. On average, equities research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.29%. Essential Utilities's dividend payout ratio is presently 59.91%.

Analysts Set New Price Targets

Several research firms have recently commented on WTRG. UBS Group cut their price objective on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company raised their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Evercore ISI upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Finally, Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

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.