Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,047,706 shares of the company's stock after selling 27,627 shares during the period. California Public Employees Retirement System owned approximately 0.38% of Essential Utilities worth $38,053,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new stake in shares of Essential Utilities during the 4th quarter worth about $26,000. IFP Advisors Inc lifted its position in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after buying an additional 473 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Essential Utilities during the fourth quarter worth approximately $45,000. Stonebridge Financial Group LLC acquired a new stake in shares of Essential Utilities in the fourth quarter worth $60,000. Finally, Crews Bank & Trust acquired a new stake in shares of Essential Utilities in the fourth quarter worth $90,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Down 3.1 %

Shares of WTRG stock traded down $1.21 during mid-day trading on Monday, reaching $38.35. 3,404,605 shares of the company were exchanged, compared to its average volume of 1,475,283. 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 business's 50 day simple moving average is $37.62 and its 200 day simple moving average is $37.83. The company has a market capitalization of $10.57 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.57 and a beta of 0.80. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78.

Remove Ads

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

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.39%. Essential Utilities's payout ratio is currently 59.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WTRG. StockNews.com raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Friday. Evercore ISI upped their target price on 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 dropped their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report 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 report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

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.