Inceptionr LLC Makes New Investment in Essential Utilities, Inc. (NYSE:WTRG)

Inceptionr LLC purchased a new position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 16,169 shares of the company's stock, valued at approximately $587,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its position in shares of Essential Utilities by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company's stock worth $2,001,000 after purchasing an additional 803 shares in the last quarter. Synergy Asset Management LLC increased its position in Essential Utilities by 92.8% during the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock worth $5,529,000 after buying an additional 71,222 shares during the period. Nordea Investment Management AB lifted its stake in Essential Utilities by 16.7% in the fourth 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. Empower Advisory Group LLC lifted its stake in Essential Utilities by 5.6% in the third quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company's stock valued at $61,152,000 after buying an additional 84,596 shares during the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of Essential Utilities in the fourth quarter valued at approximately $638,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

WTRG traded down $0.86 during trading on Tuesday, reaching $39.72. The company's stock had a trading volume of 1,996,075 shares, compared to its average volume of 1,607,684. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company's fifty day moving average price is $35.94 and its 200-day moving average price is $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 market capitalization of $10.92 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79.

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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 firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. On average, equities analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 yield of 3.28%. Essential Utilities's payout ratio is currently 59.91%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore ISI upped 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. UBS Group reduced their target price on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company raised their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Essential Utilities has a consensus rating of "Moderate Buy" and an average price target 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.