Janney Montgomery Scott LLC Lowers Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Janney Montgomery Scott LLC trimmed its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,707 shares of the company's stock after selling 12,157 shares during the quarter. Janney Montgomery Scott LLC's holdings in Essential Utilities were worth $4,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Friedenthal Financial purchased a new stake in Essential Utilities in the third quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new stake in Essential Utilities in the third quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new stake in Essential Utilities in the third quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its position in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after acquiring an additional 294 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Essential Utilities during the third quarter valued at approximately $42,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on WTRG shares. UBS Group reduced their price target 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. Wells Fargo & Company cut shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research report on Tuesday. Finally, Robert W. Baird increased 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, November 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Essential Utilities Trading Up 0.9 %

Shares of Essential Utilities stock traded up $0.32 on Thursday, hitting $35.48. The stock had a trading volume of 1,206,058 shares, compared to its average volume of 1,519,828. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.40 and a beta of 0.86. The stock's 50-day simple moving average is $36.88 and its two-hundred day simple moving average is $38.51. Essential Utilities, Inc. has a one year low of $33.18 and a one year 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.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted $0.30 earnings per share. As a group, sell-side analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities's dividend payout ratio (DPR) is currently 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.