224,200 Shares in Essential Utilities, Inc. (NYSE:WTRG) Purchased by KLP Kapitalforvaltning AS

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV grew its position in shares of Essential Utilities by 4.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company's stock worth $230,000 after buying an additional 289 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Essential Utilities by 61.4% during the 3rd 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. Louisiana State Employees Retirement System boosted its stake in Essential Utilities by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company's stock valued at $2,546,000 after acquiring an additional 300 shares during the last quarter. Rothschild Investment LLC grew its holdings in Essential Utilities by 1.7% during the 4th quarter. Rothschild Investment LLC now owns 19,527 shares of the company's stock worth $709,000 after acquiring an additional 317 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Essential Utilities by 7.2% in the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company's stock worth $180,000 after purchasing an additional 332 shares during the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

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Essential Utilities Stock Performance

NYSE WTRG traded up $0.65 during trading hours on Friday, hitting $39.30. The company had a trading volume of 2,140,840 shares, compared to its average volume of 1,451,898. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The firm has a market cap of $10.80 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. 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 business has a fifty day simple moving average of $37.00 and a 200-day simple moving average of $37.82.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Equities analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is 59.91%.

Analysts Set New Price Targets

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

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.