NFJ Investment Group LLC Sells 10,847 Shares of Essential Utilities, Inc. (NYSE:WTRG)

NFJ Investment Group LLC cut its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,051 shares of the company's stock after selling 10,847 shares during the quarter. NFJ Investment Group LLC owned 0.07% of Essential Utilities worth $6,939,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC lifted its stake in Essential Utilities by 92.8% during the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock worth $5,529,000 after purchasing an additional 71,222 shares during the period. Nordea Investment Management AB grew its position in Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock valued at $247,134,000 after acquiring an additional 972,803 shares during the period. Brighton Jones LLC acquired a new position in Essential Utilities during the fourth quarter worth $638,000. JPMorgan Chase & Co. lifted its holdings in shares of Essential Utilities by 33.1% during the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company's stock valued at $36,795,000 after acquiring an additional 237,096 shares during the period. Finally, RWC Asset Management LLP bought a new stake in shares of Essential Utilities in the 4th quarter worth about $2,119,000. 74.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on WTRG shares. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. StockNews.com upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday. Evercore ISI increased their price objective 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. Finally, UBS Group dropped their target price on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.50.

Essential Utilities Trading Up 2.5 %

Shares of NYSE:WTRG traded up $1.02 during trading on Tuesday, hitting $41.20. 237,064 shares of the company's stock were exchanged, compared to its average volume of 1,664,556. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The firm has a market cap of $11.35 billion, a P/E ratio of 20.60, a PEG ratio of 2.57 and a beta of 0.80. The firm has a 50-day moving average price of $38.51 and a two-hundred day moving average price of $37.90. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $604.38 million during the quarter, compared to analysts' expectations of $698.77 million. Equities analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is currently 59.91%.

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.