Empower Advisory Group LLC Raises Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Empower Advisory Group LLC boosted its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,660,038 shares of the company's stock after purchasing an additional 74,563 shares during the quarter. Empower Advisory Group LLC owned about 0.60% of Essential Utilities worth $60,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WTRG. Pathway Financial Advisers LLC grew its holdings in shares of Essential Utilities by 4,309.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company's stock valued at $48,424,000 after purchasing an additional 1,227,010 shares in the last quarter. Boston Trust Walden Corp lifted its position in Essential Utilities by 117.3% during the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company's stock valued at $75,701,000 after purchasing an additional 1,059,320 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock worth $247,134,000 after buying an additional 972,803 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Essential Utilities in the 3rd quarter worth about $30,842,000. Finally, JPMorgan Chase & Co. raised its position in shares of Essential Utilities by 33.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company's stock valued at $36,795,000 after buying an additional 237,096 shares in the last quarter. Institutional investors own 74.78% of the company's stock.

Analyst Ratings Changes

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

Essential Utilities Trading Up 1.7 %

Shares of NYSE:WTRG traded up $0.62 during trading hours on Friday, hitting $36.58. 1,842,627 shares of the company's stock traded hands, compared to its average volume of 1,427,551. The firm has a market capitalization of $10.04 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86. The business has a fifty day moving average price of $35.54 and a 200-day moving average price of $37.92. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. 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 Announces Dividend

The firm also recently disclosed 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 3.56%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 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.