First National Bank & Trust Co. of Newtown Reduces Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

First National Bank & Trust Co. of Newtown trimmed its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,392 shares of the company's stock after selling 8,067 shares during the period. Essential Utilities accounts for 0.8% of First National Bank & Trust Co. of Newtown's investment portfolio, making the stock its 20th biggest position. First National Bank & Trust Co. of Newtown's holdings in Essential Utilities were worth $3,936,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock valued at $247,134,000 after buying an additional 972,803 shares during the last quarter. Geode Capital Management LLC increased its position in Essential Utilities by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company's stock valued at $165,701,000 after purchasing an additional 82,456 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in Essential Utilities by 4.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company's stock worth $97,632,000 after purchasing an additional 100,990 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Essential Utilities by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company's stock worth $83,088,000 after purchasing an additional 145,767 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Essential Utilities by 8.4% in the 4th quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company's stock worth $77,249,000 after purchasing an additional 164,215 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 1.7 %

Essential Utilities stock traded up $0.62 during mid-day trading on Friday, hitting $36.58. The company had a trading volume of 1,842,627 shares, compared to its average volume of 1,427,551. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The company has a market capitalization of $10.04 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86. The stock's 50 day moving average price is $35.58 and its two-hundred day moving average price is $37.94. 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 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 given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.56%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is 65.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. 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. Robert W. Baird increased their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company cut Essential Utilities from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

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.