Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC raised its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,401 shares of the company's stock after purchasing an additional 12,268 shares during the period. MetLife Investment Management LLC owned 0.05% of Essential Utilities worth $5,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. VSM Wealth Advisory LLC purchased a new stake in Essential Utilities in the fourth quarter valued at about $26,000. IFP Advisors Inc raised its position in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after purchasing an additional 473 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Essential Utilities in the 4th quarter worth approximately $45,000. Bessemer Group Inc. grew its position in Essential Utilities by 98.9% during the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock worth $56,000 after purchasing an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in Essential Utilities during the 4th quarter worth approximately $60,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Down 0.5 %

Shares of WTRG opened at $40.97 on Thursday. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.57 and a beta of 0.80. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The stock's 50-day moving average price is $38.73 and its 200-day moving average price is $37.94. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

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

Essential Utilities Dividend Announcement

The company 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. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.18%. Essential Utilities's dividend payout ratio (DPR) is currently 59.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI lifted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. StockNews.com raised Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. Wells Fargo & Company lifted their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Finally, UBS Group cut their price target 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

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.

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