Vanguard Group Inc. Acquires 2,245,256 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Vanguard Group Inc. raised its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,061,135 shares of the company's stock after acquiring an additional 2,245,256 shares during the period. Vanguard Group Inc. owned approximately 10.95% of Essential Utilities worth $1,091,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of WTRG. Brooklyn Investment Group bought a new position in shares of Essential Utilities in the 3rd quarter valued at about $26,000. VSM Wealth Advisory LLC purchased a new stake in Essential Utilities during the fourth quarter valued at approximately $26,000. IFP Advisors Inc lifted its stake 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. Stonebridge Financial Group LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at approximately $60,000. Finally, Crews Bank & Trust purchased a new position in shares of Essential Utilities in the 4th quarter worth approximately $90,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WTRG. UBS Group decreased their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Evercore ISI raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Essential Utilities presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Remove Ads

Essential Utilities Trading Up 0.2 %

Shares of NYSE WTRG traded up $0.08 during mid-day trading on Wednesday, reaching $39.63. The company had a trading volume of 218,430 shares, compared to its average volume of 1,449,810. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The business's 50-day moving average is $37.19 and its 200-day moving average is $37.81. 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 issued its earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Equities analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 yield of 3.29%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

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.