Natixis Advisors LLC lifted its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 38.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,228 shares of the company's stock after acquiring an additional 25,846 shares during the period. Natixis Advisors LLC's holdings in Essential Utilities were worth $3,350,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock worth $247,134,000 after purchasing an additional 972,803 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Essential Utilities in the 3rd quarter valued at $30,842,000. Allianz Asset Management GmbH lifted its position in shares of Essential Utilities by 51.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,935,818 shares of the company's stock valued at $70,309,000 after acquiring an additional 656,136 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its stake in Essential Utilities by 42.6% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,043,011 shares of the company's stock worth $74,202,000 after acquiring an additional 609,915 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Essential Utilities by 33.1% during the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company's stock worth $36,795,000 after acquiring an additional 237,096 shares in the last quarter. 74.78% of the stock is owned by institutional investors.
Essential Utilities Stock Down 0.6 %
Shares of WTRG traded down $0.21 on Tuesday, reaching $37.94. The company's stock had a trading volume of 1,379,887 shares, compared to its average volume of 1,371,363. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The stock has a market capitalization of $10.43 billion, a PE ratio of 18.97, a PEG ratio of 2.57 and a beta of 0.79. 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 fifty day moving average of $36.77 and a 200-day moving average of $37.81.
Essential Utilities (NYSE:WTRG - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $604.38 million for the quarter, compared to analyst estimates 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 declared 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 payout ratio is 59.91%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the stock. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. UBS Group decreased their target price 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. Evercore ISI increased their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price objective 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 issued a buy rating to the company's stock. According to data from MarketBeat, Essential Utilities currently has an average rating of "Moderate Buy" and an average target price of $43.50.
View Our Latest Report on WTRG
Essential Utilities Profile
(
Free Report)
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.
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