John G Ullman & Associates Inc. Acquires 69,928 Shares of Essential Utilities, Inc. (NYSE:WTRG)

John G Ullman & Associates Inc. lifted its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 33.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 282,050 shares of the company's stock after purchasing an additional 69,928 shares during the quarter. Essential Utilities accounts for 1.5% of John G Ullman & Associates Inc.'s portfolio, making the stock its 14th largest position. John G Ullman & Associates Inc. owned about 0.10% of Essential Utilities worth $10,244,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WTRG. Glenmede Trust Co. NA raised its position in Essential Utilities by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company's stock valued at $2,001,000 after acquiring an additional 803 shares in the last quarter. Synergy Asset Management LLC grew its holdings in Essential Utilities by 92.8% during the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock valued at $5,529,000 after purchasing an additional 71,222 shares during the last quarter. Nordea Investment Management AB grew its holdings in Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock valued at $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Empower Advisory Group LLC grew its holdings in Essential Utilities by 5.6% during the third quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company's stock valued at $61,152,000 after purchasing an additional 84,596 shares during the last quarter. Finally, Brighton Jones LLC acquired a new position in Essential Utilities during the fourth quarter valued at approximately $638,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

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Essential Utilities Price Performance

Shares of NYSE WTRG traded down $0.24 during midday trading on Wednesday, reaching $38.52. 1,505,017 shares of the company traded hands, compared to its average volume of 1,563,300. The firm has a market cap of $10.59 billion, a PE ratio of 19.26, a PEG ratio of 2.57 and a beta of 0.79. The stock's 50-day simple moving average is $35.75 and its 200-day simple moving average is $37.82. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. 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 issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (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 analysts' expectations of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. As a group, equities analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.38%. Essential Utilities's dividend payout ratio is 59.91%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WTRG. UBS Group lowered their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Robert W. Baird increased their price target on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. 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 research note on Wednesday. Jefferies Financial Group upgraded 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. Finally, Wells Fargo & Company lifted their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $43.50.

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.