Essential Utilities, Inc. (NYSE:WTRG) Stock Position Reduced by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. reduced its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,410,529 shares of the company's stock after selling 120,768 shares during the period. Duff & Phelps Investment Management Co. owned about 0.88% of Essential Utilities worth $87,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of WTRG. Brooklyn Investment Group acquired a new stake in shares of Essential Utilities during the 3rd quarter worth about $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Essential Utilities in the fourth quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in shares of Essential Utilities during the third quarter worth about $42,000. IFP Advisors Inc grew its holdings in shares of Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after buying an additional 473 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Essential Utilities during the 4th quarter valued at approximately $45,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Up 0.3 %

Essential Utilities stock traded up $0.11 during midday trading on Tuesday, hitting $39.64. 426,313 shares of the stock were exchanged, compared to its average volume of 1,448,890. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The company has a 50 day moving average price of $37.09 and a two-hundred day moving average price of $37.81. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The firm has a market cap of $10.92 billion, a P/E ratio of 19.85, a P/E/G ratio of 2.57 and a beta of 0.79.

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Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. On average, sell-side analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.28%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Evercore ISI boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price for the company in a research note on Tuesday, January 28th. Finally, UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company 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's stock. According to MarketBeat, Essential Utilities presently has an average rating of "Moderate Buy" and an average target price 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.