Jones Financial Companies Lllp Boosts Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Jones Financial Companies Lllp boosted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 240,233 shares of the company's stock after purchasing an additional 57,291 shares during the period. Jones Financial Companies Lllp owned about 0.09% of Essential Utilities worth $8,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WTRG. Brooklyn Investment Group acquired a new position in Essential Utilities in the third quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in shares of Essential Utilities in the 3rd quarter valued at $28,000. First Horizon Advisors Inc. boosted its holdings in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after buying an additional 294 shares in the last quarter. IFP Advisors Inc grew its position in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after buying an additional 473 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities during the third quarter valued at $42,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Evercore ISI increased their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their target price on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. One equities 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

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Essential Utilities Price Performance

NYSE WTRG traded up $1.36 during mid-day trading on Friday, hitting $39.81. The stock had a trading volume of 2,085,018 shares, compared to its average volume of 1,572,923. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The firm's 50 day moving average is $35.79 and its 200 day moving average is $37.83. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.57 and a beta of 0.79.

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, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Equities research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.27%. Essential Utilities's dividend payout ratio is presently 59.91%.

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.