Essential Utilities, Inc. (NYSE:WTRG) Holdings Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 283,791 shares of the company's stock after selling 11,000 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Essential Utilities worth $10,307,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in Essential Utilities by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company's stock valued at $2,001,000 after buying an additional 803 shares during the period. Synergy Asset Management LLC boosted its holdings in shares of Essential Utilities by 92.8% in the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock valued at $5,529,000 after acquiring an additional 71,222 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Essential Utilities by 16.7% during the fourth 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 during the period. Empower Advisory Group LLC raised its holdings in Essential Utilities by 5.6% during the third quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company's stock worth $61,152,000 after purchasing an additional 84,596 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in Essential Utilities in the fourth quarter worth approximately $638,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WTRG has been the topic of several 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. Robert W. Baird lifted their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lowered shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Essential Utilities Trading Up 1.7 %

Shares of Essential Utilities stock traded up $0.62 on Friday, reaching $36.58. 1,842,619 shares of the company were exchanged, compared to its average volume of 1,427,550. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. 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 capitalization of $10.04 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86. The stock has a fifty day moving average price of $35.58 and a 200-day moving average price of $37.94.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio is presently 65.00%.

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.