Swiss National Bank Decreases Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Swiss National Bank reduced its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 734,500 shares of the company's stock after selling 34,400 shares during the period. Swiss National Bank owned about 0.27% of Essential Utilities worth $26,677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WTRG. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Essential Utilities by 6.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 510,053 shares of the company's stock worth $19,673,000 after purchasing an additional 29,461 shares during the period. CIBC Asset Management Inc raised its position in Essential Utilities by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company's stock valued at $549,000 after purchasing an additional 250 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Essential Utilities by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 66,382 shares of the company's stock worth $2,560,000 after buying an additional 3,761 shares during the period. Quest Partners LLC bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $630,000. Finally, Lindenwold Advisors INC increased its stake in shares of Essential Utilities by 4.8% during the third quarter. Lindenwold Advisors INC now owns 7,930 shares of the company's stock valued at $306,000 after buying an additional 364 shares during the period. Institutional investors own 74.78% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages recently commented on WTRG. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. Wells Fargo & Company raised their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. UBS Group reduced their price target on shares of 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, Evercore ISI raised 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities Stock Down 1.2 %

WTRG traded down $0.47 during midday trading on Friday, reaching $38.39. The company's stock had a trading volume of 3,719,878 shares, compared to its average volume of 1,372,166. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The stock's 50-day moving average is $36.52 and its 200-day moving average is $37.85. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.79. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $604.38 million during the quarter, compared to analyst estimates of $698.77 million. As a group, research analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

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

About Essential Utilities

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.