ELCO Management Co. LLC reduced its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 37.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,552 shares of the company's stock after selling 6,950 shares during the period. ELCO Management Co. LLC's holdings in Essential Utilities were worth $420,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Blair William & Co. IL lifted its holdings in shares of Essential Utilities by 1.2% in the 4th quarter. Blair William & Co. IL now owns 24,652 shares of the company's stock valued at $895,000 after buying an additional 285 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in Essential Utilities by 4.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company's stock worth $230,000 after purchasing an additional 289 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Essential Utilities by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company's stock worth $2,546,000 after purchasing an additional 300 shares during the period. Rothschild Investment LLC increased its holdings in shares of Essential Utilities by 1.7% during the 4th quarter. Rothschild Investment LLC now owns 19,527 shares of the company's stock valued at $709,000 after purchasing an additional 317 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Essential Utilities by 7.2% during the fourth quarter. GAMMA Investing LLC now owns 4,946 shares of the company's stock worth $180,000 after buying an additional 332 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.
Essential Utilities Stock Up 1.4 %
Shares of WTRG stock traded up $0.57 during trading hours on Monday, hitting $39.94. 358,895 shares of the company were exchanged, compared to its average volume of 1,482,333. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The business's 50-day simple moving average is $37.92 and its two-hundred day simple moving average is $37.83. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 2.57 and a beta of 0.80.
Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results 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. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $604.38 million during the quarter, compared to analysts' expectations of $698.77 million. Sell-side analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.
Essential Utilities Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. StockNews.com cut Essential Utilities from a "hold" rating to a "sell" rating in a report on Saturday. Evercore ISI upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. UBS Group cut their price objective on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.50.
Check Out Our Latest Analysis on WTRG
Essential Utilities Profile
(
Free Report)
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.
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