John G Ullman & Associates Inc. Boosts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

John G Ullman & Associates Inc. grew its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 121.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,122 shares of the company's stock after purchasing an additional 116,422 shares during the quarter. Essential Utilities comprises about 1.2% of John G Ullman & Associates Inc.'s holdings, making the stock its 23rd biggest holding. John G Ullman & Associates Inc. owned about 0.08% of Essential Utilities worth $8,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Essential Utilities by 12.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company's stock worth $5,171,000 after acquiring an additional 15,009 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in shares of Essential Utilities in the 1st quarter worth about $46,280,000. Boston Trust Walden Corp increased its stake in shares of Essential Utilities by 350.3% in the 2nd quarter. Boston Trust Walden Corp now owns 903,372 shares of the company's stock worth $33,723,000 after acquiring an additional 702,760 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Essential Utilities by 11.6% in the 1st quarter. Gabelli Funds LLC now owns 559,950 shares of the company's stock worth $20,746,000 after acquiring an additional 58,018 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Essential Utilities by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 881,658 shares of the company's stock valued at $32,912,000 after purchasing an additional 21,804 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

Shares of NYSE WTRG traded up $0.42 during trading on Thursday, reaching $39.36. 1,022,980 shares of the company traded hands, compared to its average volume of 1,519,531. The firm has a 50 day simple moving average of $39.01 and a 200-day simple moving average of $38.83. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $10.81 billion, a PE ratio of 19.47, a P/E/G ratio of 3.08 and a beta of 0.84. Essential Utilities, Inc. has a 52-week low of $33.57 and a 52-week high of $41.78.

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

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Tuesday, November 12th. Essential Utilities's payout ratio is 65.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WTRG. Evercore ISI increased their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Bank of America reissued a "buy" rating and set a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Jefferies Financial Group downgraded shares of Essential Utilities from a "buy" rating to a "hold" rating and cut their price objective for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Finally, Robert W. Baird increased their price objective 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 four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.00.

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.