74,894 Shares in Essential Utilities, Inc. (NYSE:WTRG) Acquired by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in shares of 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 acquired 74,894 shares of the company's stock, valued at approximately $2,720,000.

Several other large investors have also made changes to their positions in the business. CIBC Asset Management Inc lifted its holdings in shares of Essential Utilities by 1.8% during the third quarter. CIBC Asset Management Inc now owns 14,243 shares of the company's stock worth $549,000 after buying an additional 250 shares during the last quarter. Natixis Advisors LLC increased its position in Essential Utilities by 6.0% during the third quarter. Natixis Advisors LLC now owns 66,382 shares of the company's stock worth $2,560,000 after acquiring an additional 3,761 shares during the period. Quest Partners LLC acquired a new position in Essential Utilities during the 3rd quarter valued at $630,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Essential Utilities in the 3rd quarter valued at $219,000. Finally, Commerce Bank grew its position in Essential Utilities by 13.3% in the 3rd quarter. Commerce Bank now owns 6,865 shares of the company's stock worth $265,000 after purchasing an additional 805 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Price Performance

WTRG traded down $0.21 during midday trading on Tuesday, reaching $37.94. 1,379,887 shares of the company's stock were exchanged, compared to its average volume of 1,371,566. 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 50-day simple moving average of $36.69 and a two-hundred day simple moving average of $37.82. The firm has a market capitalization of $10.43 billion, a price-to-earnings 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.

Remove Ads

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. As a group, research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is currently 59.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WTRG shares. Evercore ISI upped 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, March 5th. UBS Group cut their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their target price 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.50.

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.