Coldstream Capital Management Inc. bought a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 57,626 shares of the company's stock, valued at approximately $2,223,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in WTRG. Geode Capital Management LLC lifted its stake in shares of Essential Utilities by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company's stock worth $165,701,000 after purchasing an additional 82,456 shares during the period. Vestcor Inc lifted its holdings in Essential Utilities by 74.5% during the third quarter. Vestcor Inc now owns 20,239 shares of the company's stock valued at $781,000 after purchasing an additional 8,642 shares in the last quarter. M&T Bank Corp boosted its position in shares of Essential Utilities by 5.8% in the third quarter. M&T Bank Corp now owns 52,488 shares of the company's stock worth $2,025,000 after purchasing an additional 2,860 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Essential Utilities by 4.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company's stock worth $97,632,000 after purchasing an additional 100,990 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Essential Utilities by 3.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 244,901 shares of the company's stock valued at $9,446,000 after purchasing an additional 7,800 shares during the period. Institutional investors own 74.78% of the company's stock.
Essential Utilities Trading Down 1.0 %
WTRG traded down $0.40 during trading hours on Wednesday, reaching $38.68. 310,480 shares of the company's stock traded hands, compared to its average volume of 1,508,464. The firm has a 50-day moving average price of $39.33 and a 200 day moving average price of $38.91. The firm has a market capitalization of $10.62 billion, a PE ratio of 19.54, a PEG ratio of 3.06 and a beta of 0.85. 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, Inc. has a 52-week low of $33.57 and a 52-week high of $41.78.
Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. As a group, sell-side analysts predict that Essential Utilities, Inc. will post 2.02 EPS for the current fiscal year.
Essential Utilities Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.37%. The ex-dividend date was Tuesday, November 12th. Essential Utilities's payout ratio is 65.00%.
Wall Street Analyst Weigh In
WTRG has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price target 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. Jefferies Financial Group cut shares of Essential Utilities from a "buy" rating to a "hold" rating and decreased their target price for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, Bank of America reaffirmed a "buy" rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.00.
View Our Latest Report on WTRG
About Essential Utilities
(
Free Report)
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.
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