Costello Asset Management INC Sells 7,165 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Costello Asset Management INC reduced its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,200 shares of the company's stock after selling 7,165 shares during the period. Essential Utilities makes up 2.3% of Costello Asset Management INC's portfolio, making the stock its 15th largest holding. Costello Asset Management INC's holdings in Essential Utilities were worth $3,421,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WTRG. Blossom Wealth Management raised its holdings in shares of Essential Utilities by 7.2% in the 4th quarter. Blossom Wealth Management now owns 15,850 shares of the company's stock valued at $576,000 after purchasing an additional 1,070 shares in the last quarter. Everett Harris & Co. CA purchased a new stake in shares of Essential Utilities in the 4th quarter valued at $472,000. Custom Index Systems LLC acquired a new position in shares of Essential Utilities in the 4th quarter valued at $225,000. Hamilton Point Investment Advisors LLC lifted its stake in shares of Essential Utilities by 1.4% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 131,271 shares of the company's stock valued at $4,768,000 after purchasing an additional 1,753 shares during the period. Finally, Mediolanum International Funds Ltd raised its position in Essential Utilities by 48.9% during the fourth quarter. Mediolanum International Funds Ltd now owns 14,013 shares of the company's stock worth $506,000 after acquiring an additional 4,599 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WTRG has been the subject of a number of recent research reports. Wells Fargo & Company cut shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. Robert W. Baird raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Finally, UBS Group cut their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Essential Utilities Stock Down 0.3 %

NYSE WTRG traded down $0.11 on Wednesday, reaching $35.31. The company had a trading volume of 726,601 shares, compared to its average volume of 1,497,858. The firm has a 50-day moving average of $36.55 and a 200-day moving average of $38.36. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The firm has a market capitalization of $9.70 billion, a PE ratio of 17.69, a P/E/G ratio of 2.54 and a beta of 0.87. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 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 $435.30 million for the quarter, compared to analyst estimates of $416.95 million. During the same period last year, the company earned $0.30 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Monday, February 10th. Essential Utilities's dividend payout ratio is 65.00%.

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.