Congress Wealth Management LLC DE Buys Shares of 8,020 Essential Utilities, Inc. (NYSE:WTRG)

Congress Wealth Management LLC DE acquired a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,020 shares of the company's stock, valued at approximately $291,000.

A number of other large investors have also modified their holdings of WTRG. Brooklyn Investment Group acquired a new stake in Essential Utilities in the 3rd quarter valued at $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities in the fourth quarter valued at about $26,000. IFP Advisors Inc grew its position in shares of Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after purchasing an additional 473 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Essential Utilities during the 4th quarter worth about $60,000. Finally, Crews Bank & Trust purchased a new position in Essential Utilities in the 4th quarter valued at about $90,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Trading Down 0.5 %

Shares of WTRG traded down $0.18 during midday trading on Wednesday, reaching $39.37. The company had a trading volume of 526,703 shares, compared to its average volume of 1,451,083. Essential Utilities, Inc. has a 1-year low of $33.18 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. The firm has a 50 day simple moving average of $37.19 and a 200-day simple moving average of $37.81. The stock has a market cap of $10.85 billion, a PE ratio of 19.69, a price-to-earnings-growth 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 (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million during the quarter, compared to analysts' expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Research analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently disclosed 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 yield of 3.31%. Essential Utilities's payout ratio is 59.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WTRG. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. UBS Group decreased their price objective on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Evercore ISI upped their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a 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 research note 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, Essential Utilities has an average rating of "Moderate Buy" and a consensus price target 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.