Essential Utilities, Inc. (NYSE:WTRG) Position Decreased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. cut its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 21.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,149 shares of the company's stock after selling 9,078 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Essential Utilities were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Glenmede Trust Co. NA raised its holdings in Essential Utilities by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company's stock valued at $2,001,000 after acquiring an additional 803 shares in the last quarter. Synergy Asset Management LLC raised its holdings in Essential Utilities by 92.8% in the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock valued at $5,529,000 after acquiring an additional 71,222 shares in the last quarter. Nordea Investment Management AB raised its holdings in Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock valued at $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Empower Advisory Group LLC raised its holdings in Essential Utilities by 5.6% in the third quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company's stock valued at $61,152,000 after acquiring an additional 84,596 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in Essential Utilities in the fourth quarter valued at $638,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. 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. Wells Fargo & Company increased their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Evercore ISI increased 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. Finally, UBS Group dropped their target price 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Essential Utilities Stock Performance

Shares of WTRG stock traded up $1.36 during trading hours on Friday, reaching $39.81. The stock had a trading volume of 2,085,018 shares, compared to its average volume of 1,572,923. 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, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The firm has a 50-day simple moving average of $35.85 and a 200-day simple moving average of $37.81. The firm has a market capitalization of $10.95 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79.

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 for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $604.38 million for the quarter, compared to analysts' expectations of $698.77 million. As a group, equities analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current 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 is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.27%. Essential Utilities's dividend payout ratio is presently 59.91%.

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.