Franklin Resources Inc. Grows Stake in Essential Utilities, Inc. (NYSE:WTRG)

Franklin Resources Inc. grew its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,046,443 shares of the company's stock after buying an additional 49,044 shares during the quarter. Franklin Resources Inc. owned 0.38% of Essential Utilities worth $38,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC purchased a new position in shares of Essential Utilities during the fourth quarter worth approximately $26,000. IFP Advisors Inc boosted its position in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after buying an additional 473 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at about $45,000. Stonebridge Financial Group LLC bought a new position in Essential Utilities during the 4th quarter worth approximately $60,000. Finally, Crews Bank & Trust bought a new position in shares of Essential Utilities in the fourth quarter worth approximately $90,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 0.0 %

Shares of NYSE:WTRG traded up $0.01 on Thursday, hitting $37.77. 651,787 shares of the company traded hands, compared to its average volume of 1,484,500. The company has a market cap of $10.41 billion, a PE ratio of 18.91, a PEG ratio of 2.57 and a beta of 0.80. The stock has a 50 day simple moving average of $37.80 and a 200-day simple moving average of $37.82. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

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Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $604.38 million during the quarter, compared to analysts' expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, research analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.45%. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

Analysts Set New Price Targets

WTRG has been the topic of a number of analyst reports. UBS Group decreased their price objective 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. StockNews.com raised Essential Utilities from a "sell" rating to a "hold" rating in a research note on Friday, April 4th. Jefferies Financial Group raised shares of 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 increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.50.

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.