Essential Utilities, Inc. (NYSE:WTRG) Stock Position Decreased by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 49.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,201 shares of the company's stock after selling 22,741 shares during the period. Intech Investment Management LLC's holdings in Essential Utilities were worth $895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company's stock valued at $48,424,000 after buying an additional 1,227,010 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of Essential Utilities by 117.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company's stock valued at $75,701,000 after acquiring an additional 1,059,320 shares during the period. AMF Tjanstepension AB purchased a new stake in Essential Utilities during the 2nd quarter worth $11,853,000. Dimensional Fund Advisors LP boosted its position in Essential Utilities by 18.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company's stock worth $56,002,000 after purchasing an additional 234,857 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new stake in Essential Utilities in the 2nd quarter valued at $5,221,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on WTRG. Bank of America restated a "buy" rating and set a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Wells Fargo & Company decreased their price target on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Jefferies Financial Group lowered shares of Essential Utilities from a "buy" rating to a "hold" rating and dropped their price objective for the company from $44.00 to $41.00 in a research note on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, Evercore ISI raised their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.00.

Essential Utilities Stock Down 0.5 %

WTRG stock traded down $0.21 during midday trading on Friday, hitting $40.07. 638,545 shares of the company's stock were exchanged, compared to its average volume of 1,525,061. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The firm has a 50 day moving average price of $39.13 and a 200-day moving average price of $38.88. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 3.19 and a beta of 0.84. Essential Utilities, Inc. has a 12-month low of $33.57 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. On average, analysts anticipate that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities's dividend payout ratio is presently 65.00%.

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.