Zurcher Kantonalbank Zurich Cantonalbank Has $7.49 Million Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 9.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,139 shares of the company's stock after acquiring an additional 16,819 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Essential Utilities worth $7,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTRG. Price T Rowe Associates Inc. MD raised its holdings in shares of Essential Utilities by 12.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company's stock worth $5,171,000 after acquiring an additional 15,009 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Essential Utilities by 198.4% in the first quarter. Cetera Investment Advisers now owns 48,750 shares of the company's stock worth $1,806,000 after acquiring an additional 32,415 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Essential Utilities in the 1st quarter valued at $522,000. GAMMA Investing LLC lifted its holdings in shares of Essential Utilities by 59.0% during the 2nd quarter. GAMMA Investing LLC now owns 5,359 shares of the company's stock valued at $200,000 after acquiring an additional 1,989 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in Essential Utilities by 206.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,640 shares of the company's stock worth $173,000 after purchasing an additional 3,127 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Price Performance

NYSE:WTRG traded up $0.16 during trading hours on Monday, reaching $40.19. The company had a trading volume of 1,741,060 shares, compared to its average volume of 1,525,997. Essential Utilities, Inc. has a one year low of $33.57 and a one year high of $41.78. The stock has a 50-day moving average of $39.18 and a two-hundred day moving average of $38.88. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $11.04 billion, a PE ratio of 20.10, a PEG ratio of 3.17 and a beta of 0.84.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 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 $435.30 million for the quarter, compared to analyst estimates of $416.95 million. During the same quarter last year, the firm earned $0.30 EPS. Essential Utilities's quarterly revenue was up 5.8% compared to the same quarter last year. Analysts forecast that Essential Utilities, Inc. will post 2.01 earnings per share for the current year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.30 annualized dividend and a yield of 3.24%. Essential Utilities's dividend payout ratio (DPR) is presently 65.00%.

Analysts Set New Price Targets

A number of brokerages have commented on WTRG. Wells Fargo & Company reduced their price objective on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group cut Essential Utilities from a "buy" rating to a "hold" rating and decreased their price target for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Bank of America reaffirmed a "buy" rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Evercore ISI lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Essential Utilities presently has an average rating of "Moderate Buy" and an average target price of $44.00.

Essential Utilities 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.