M&T Bank Corp Has $1.47 Million Holdings in Essential Utilities, Inc. (NYSE:WTRG)

M&T Bank Corp decreased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,553 shares of the company's stock after selling 11,935 shares during the period. M&T Bank Corp's holdings in Essential Utilities were worth $1,473,000 as of its most recent SEC filing.

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

Essential Utilities Trading Up 1.0 %

WTRG stock traded up $0.40 during midday trading on Friday, reaching $39.54. The stock had a trading volume of 1,326,802 shares, compared to its average volume of 1,387,865. The firm has a market cap of $10.87 billion, a price-to-earnings ratio of 19.77, a PEG 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. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.82. The business has a fifty day simple moving average of $36.12 and a two-hundred day simple moving average of $37.83.

Remove Ads

Essential Utilities (NYSE:WTRG - Get Free Report) last announced 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 business had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. As a group, research analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.29%. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

Wall Street Analyst Weigh In

WTRG has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company raised 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. UBS Group reduced their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI raised 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Essential Utilities 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.