KLP Kapitalforvaltning AS Takes $8.14 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

KLP Kapitalforvaltning AS purchased a new stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 224,200 shares of the company's stock, valued at approximately $8,143,000. KLP Kapitalforvaltning AS owned 0.08% of Essential Utilities as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WTRG. Brooklyn Investment Group acquired a new position in Essential Utilities in the third quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new position in shares of Essential Utilities during the 4th quarter valued at about $26,000. First Horizon Advisors Inc. grew its position in shares of Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after purchasing an additional 294 shares during the period. Truvestments Capital LLC bought a new stake in Essential Utilities during the 3rd quarter worth approximately $42,000. Finally, IFP Advisors Inc raised its holdings in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after buying an additional 473 shares during the period. Institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Down 0.6 %

Shares of NYSE WTRG traded down $0.21 during mid-day trading on Tuesday, hitting $37.94. The company had a trading volume of 1,379,887 shares, compared to its average volume of 1,371,363. 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 simple moving average of $36.69 and a two-hundred day simple moving average of $37.82. The company has a market capitalization of $10.43 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78.

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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, topping the consensus estimate 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 return on equity of 7.89% and a net margin of 27.84%. On average, equities analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.43%. Essential Utilities's payout ratio is 59.91%.

Analyst Ratings Changes

Several research analysts have recently weighed in on WTRG shares. Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target for the company in a report on Tuesday, January 28th. Evercore ISI upped their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price target on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Finally, UBS Group reduced their price objective on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

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.