Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 61.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,980 shares of the company's stock after selling 37,263 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Essential Utilities were worth $835,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Magnetar Financial LLC acquired a new position in shares of Essential Utilities during the 4th quarter worth $2,720,000. Koss Olinger Consulting LLC purchased a new position in Essential Utilities during the 4th quarter valued at about $400,000. VSM Wealth Advisory LLC purchased a new stake in shares of Essential Utilities in the fourth quarter valued at about $26,000. Xponance Inc. lifted its holdings in shares of Essential Utilities by 8.3% in the fourth quarter. Xponance Inc. now owns 42,397 shares of the company's stock valued at $1,540,000 after purchasing an additional 3,249 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Essential Utilities in the fourth quarter valued at approximately $1,290,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WTRG shares. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a research note on Tuesday, January 28th. Evercore ISI upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their target price 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. Finally, UBS Group reduced their target price on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

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Essential Utilities Trading Down 0.6 %

Essential Utilities stock traded down $0.21 during trading on Tuesday, hitting $37.94. The company's stock had a trading volume of 1,379,887 shares, compared to its average volume of 1,371,252. The stock's fifty day moving average is $36.77 and its 200 day moving average is $37.81. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 2.57 and a beta of 0.79. 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 posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, equities research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued 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 dividend yield of 3.43%. 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.