Intech Investment Management LLC lessened its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 67.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,664 shares of the company's stock after selling 15,537 shares during the period. Intech Investment Management LLC's holdings in Essential Utilities were worth $278,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in WTRG. Generali Asset Management SPA SGR purchased a new stake in Essential Utilities during the fourth quarter worth $1,290,000. Thrivent Financial for Lutherans boosted its stake in shares of Essential Utilities by 112.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 126,590 shares of the company's stock worth $4,597,000 after acquiring an additional 66,959 shares in the last quarter. Gitterman Wealth Management LLC boosted its stake in shares of Essential Utilities by 11.1% during the 4th quarter. Gitterman Wealth Management LLC now owns 10,243 shares of the company's stock worth $372,000 after acquiring an additional 1,020 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Essential Utilities by 38.9% during the 4th quarter. Natixis Advisors LLC now owns 92,228 shares of the company's stock valued at $3,350,000 after acquiring an additional 25,846 shares during the period. Finally, LBP AM SA increased its stake in shares of Essential Utilities by 2.9% in the 4th quarter. LBP AM SA now owns 64,233 shares of the company's stock valued at $2,333,000 after purchasing an additional 1,809 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on WTRG. Evercore ISI increased 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, March 5th. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. UBS Group decreased their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.50.
Check Out Our Latest Stock Analysis on WTRG
Essential Utilities Trading Up 1.7 %
Shares of NYSE WTRG traded up $0.65 during mid-day trading on Friday, reaching $39.30. 2,140,840 shares of the company's stock were exchanged, compared to its average volume of 1,451,898. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 19.65, a PEG 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 company's 50-day moving average is $37.00 and its 200-day moving average is $37.80. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.
Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $698.77 million. Analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.
Essential Utilities Dividend Announcement
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 $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's payout ratio is 59.91%.
Essential Utilities Company Profile
(
Free Report)
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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