Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Greenland Capital Management LP

Greenland Capital Management LP lifted its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 228,920 shares of the company's stock after purchasing an additional 31,074 shares during the quarter. Essential Utilities comprises about 1.3% of Greenland Capital Management LP's holdings, making the stock its 18th biggest holding. Greenland Capital Management LP owned approximately 0.08% of Essential Utilities worth $8,314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blair William & Co. IL lifted its stake in shares of Essential Utilities by 1.2% in the 4th quarter. Blair William & Co. IL now owns 24,652 shares of the company's stock valued at $895,000 after purchasing an additional 285 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in Essential Utilities by 4.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company's stock valued at $230,000 after buying an additional 289 shares during the period. Louisiana State Employees Retirement System lifted its position in Essential Utilities by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company's stock valued at $2,546,000 after buying an additional 300 shares during the last quarter. Rothschild Investment LLC increased its position in shares of Essential Utilities by 1.7% during the fourth quarter. Rothschild Investment LLC now owns 19,527 shares of the company's stock valued at $709,000 after acquiring an additional 317 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Essential Utilities by 7.2% during the fourth quarter. GAMMA Investing LLC now owns 4,946 shares of the company's stock valued at $180,000 after acquiring an additional 332 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

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Essential Utilities Stock Up 2.4 %

Essential Utilities stock traded up $0.92 during trading on Friday, reaching $39.27. The stock had a trading volume of 1,681,862 shares, compared to its average volume of 1,486,678. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The stock has a market cap of $10.82 billion, a PE ratio of 19.63, a P/E/G ratio of 2.57 and a beta of 0.80. The business has a 50 day moving average price of $37.92 and a 200 day moving average price of $37.83.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $604.38 million for 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%. On average, analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.32%. Essential Utilities's dividend payout ratio is presently 59.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WTRG. UBS Group cut their target price on 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 cut shares of Essential Utilities from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company raised their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. 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. Finally, Evercore ISI raised their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Essential Utilities has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities 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.