Generali Asset Management SPA SGR Acquires Shares of 35,531 Essential Utilities, Inc. (NYSE:WTRG)

Generali Asset Management SPA SGR bought a new stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,531 shares of the company's stock, valued at approximately $1,290,000.

Several other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Essential Utilities during the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new stake in shares of Essential Utilities during the third quarter worth about $28,000. First Horizon Advisors Inc. grew its stake in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after acquiring an additional 294 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of 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 acquiring an additional 473 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Essential Utilities in the 3rd quarter valued at approximately $42,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WTRG has been the subject of several research reports. Wells Fargo & Company lifted their price objective 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. 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 report on Tuesday, January 28th. UBS Group dropped their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Finally, Evercore ISI raised their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

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Essential Utilities Stock Performance

NYSE:WTRG traded down $0.21 during trading hours on Tuesday, reaching $37.94. The company had a trading volume of 1,379,886 shares, compared to its average volume of 1,371,566. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The business's 50 day moving average price is $36.69 and its 200-day moving average price is $37.82. The firm has a market cap of $10.43 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79.

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

Essential Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

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.