Natixis Sells 42,514 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Natixis trimmed its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 24.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,839 shares of the company's stock after selling 42,514 shares during the quarter. Natixis' holdings in Essential Utilities were worth $4,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synergy Asset Management LLC lifted its position in Essential Utilities by 92.8% during the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock worth $5,529,000 after buying an additional 71,222 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock valued at $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Brighton Jones LLC purchased a new stake in shares of Essential Utilities in the fourth quarter worth about $638,000. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 237,096 shares in the last quarter. Finally, RWC Asset Management LLP purchased a new position in Essential Utilities in the 4th quarter valued at about $2,119,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

Shares of WTRG stock traded down $0.22 during trading on Wednesday, reaching $40.97. 1,944,948 shares of the company's stock were exchanged, compared to its average volume of 1,467,279. The stock has a market capitalization of $11.29 billion, a PE ratio of 20.49, a PEG ratio of 2.57 and a beta of 0.80. The firm's fifty day moving average price is $38.73 and its 200-day moving average price is $37.94. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. 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 (NYSE:WTRG - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) 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 firm had revenue of $604.38 million for the quarter, compared to analysts' expectations of $698.77 million. As a group, sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is presently 59.91%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WTRG. UBS Group lowered 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. Evercore ISI boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday. Wells Fargo & Company raised their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Essential Utilities has an average 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.