Duff & Phelps Investment Management Co. Buys 100,990 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Duff & Phelps Investment Management Co. increased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,531,297 shares of the company's stock after purchasing an additional 100,990 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.92% of Essential Utilities worth $97,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Trust Walden Corp lifted its stake in Essential Utilities by 350.3% in the 2nd quarter. Boston Trust Walden Corp now owns 903,372 shares of the company's stock valued at $33,723,000 after acquiring an additional 702,760 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Essential Utilities by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company's stock worth $2,001,000 after buying an additional 803 shares during the last quarter. ProShare Advisors LLC raised its position in Essential Utilities by 2.5% during the second quarter. ProShare Advisors LLC now owns 881,658 shares of the company's stock worth $32,912,000 after acquiring an additional 21,804 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Essential Utilities by 18.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company's stock valued at $56,002,000 after acquiring an additional 234,857 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Essential Utilities in the 2nd quarter valued at about $482,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America reiterated a "buy" rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company reduced their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Robert W. Baird increased their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded shares of Essential Utilities from a "buy" rating to a "hold" rating and reduced their target price for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

Essential Utilities Stock Performance

NYSE WTRG traded down $0.11 during trading on Monday, reaching $38.83. The company's stock had a trading volume of 937,416 shares, compared to its average volume of 1,515,751. Essential Utilities, Inc. has a 12 month low of $33.57 and a 12 month high of $41.78. The firm has a 50 day moving average price of $39.30 and a 200 day moving average price of $38.89. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 3.06 and a beta of 0.85. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $416.95 million. During the same period in the previous year, the firm earned $0.30 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Essential Utilities, Inc. will post 2.02 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.3255 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.35%. Essential Utilities's dividend payout ratio is 65.00%.

Essential Utilities Company 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.