Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 20.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 201,898 shares of the company's stock after selling 52,415 shares during the quarter. NFJ Investment Group LLC owned about 0.07% of Essential Utilities worth $7,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Friedenthal Financial purchased a new position in shares of Essential Utilities during the third quarter valued at $25,000. Brooklyn Investment Group purchased a new position in shares of Essential Utilities during the third quarter valued at $26,000. Darwin Wealth Management LLC purchased a new position in shares of Essential Utilities during the third quarter valued at $28,000. First Horizon Advisors Inc. increased its stake in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after buying an additional 294 shares during the period. Finally, Voisard Asset Management Group Inc. purchased a new position in Essential Utilities in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Performance

Shares of Essential Utilities stock traded down $0.38 on Wednesday, reaching $39.29. 463,715 shares of the stock were exchanged, compared to its average volume of 1,519,273. Essential Utilities, Inc. has a twelve month low of $33.57 and a twelve month high of $41.78. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 3.18 and a beta of 0.85. The business has a 50 day moving average price of $39.25 and a two-hundred day moving average price of $38.89. 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 posted its quarterly earnings data on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million during the quarter, compared to analysts' expectations of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. Analysts anticipate that Essential Utilities, Inc. will post 2.01 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, November 12th. Essential Utilities's payout ratio is 65.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WTRG. Evercore ISI lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Wells Fargo & Company cut their target price on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird lifted their target price on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Jefferies Financial Group lowered Essential Utilities from a "buy" rating to a "hold" rating and cut their target price for the company from $44.00 to $41.00 in a research note on Thursday, November 7th. Finally, Bank of America reissued a "buy" rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.00.

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.