JPMorgan Chase & Co. Boosts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

JPMorgan Chase & Co. raised its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 33.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 953,984 shares of the company's stock after buying an additional 237,096 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Essential Utilities worth $36,795,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Friedenthal Financial acquired a new position in Essential Utilities during the third quarter worth about $25,000. Brooklyn Investment Group acquired a new position in shares of Essential Utilities during the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC purchased a new stake in shares of Essential Utilities in the third quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its position in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after purchasing an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Essential Utilities in the third quarter valued at approximately $42,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 0.5 %

Shares of NYSE:WTRG traded down $0.17 during midday trading on Tuesday, reaching $35.27. 1,434,361 shares of the company's stock were exchanged, compared to its average volume of 1,088,140. The firm's 50 day simple moving average is $38.36 and its two-hundred day simple moving average is $38.88. Essential Utilities, Inc. has a fifty-two week low of $33.57 and a fifty-two week high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 3.06 and a beta of 0.86.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. As a group, sell-side analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a dividend of $0.3255 per share. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.69%. Essential Utilities's dividend payout ratio is currently 65.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WTRG. Wells Fargo & Company lowered Essential Utilities from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $43.00 to $39.00 in a research note on Tuesday. Bank of America reissued a "buy" rating and issued a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th. Robert W. Baird lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Essential Utilities from a "buy" rating to a "hold" rating and decreased their target price for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.20.

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.