Prudential PLC Acquires 13,412 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Prudential PLC grew its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 14.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 104,893 shares of the company's stock after acquiring an additional 13,412 shares during the quarter. Prudential PLC's holdings in Essential Utilities were worth $3,916,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WTRG. Victory Capital Management Inc. boosted its position in shares of Essential Utilities by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 257,263 shares of the company's stock worth $9,609,000 after acquiring an additional 26,197 shares in the last quarter. Natixis Advisors L.P. increased its stake in shares of Essential Utilities by 15.1% in the 4th quarter. Natixis Advisors L.P. now owns 24,956 shares of the company's stock valued at $932,000 after purchasing an additional 3,277 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Essential Utilities by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,931,118 shares of the company's stock worth $72,127,000 after buying an additional 162,556 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Essential Utilities during the 4th quarter worth $655,000. Finally, Jump Financial LLC bought a new stake in shares of Essential Utilities during the 4th quarter worth $1,746,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the firm's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.43, for a total transaction of $87,661.06. Following the completion of the transaction, the chief accounting officer now owns 53,391 shares in the company, valued at approximately $1,998,425.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by company insiders.

Essential Utilities Trading Down 1.8 %

NYSE WTRG traded down $0.71 on Wednesday, hitting $39.02. The company's stock had a trading volume of 1,590,305 shares, compared to its average volume of 1,541,473. The firm has a market cap of $10.67 billion, a PE ratio of 18.83, a PEG ratio of 3.49 and a beta of 0.85. The company's 50-day moving average is $39.54 and its 200 day moving average is $37.72. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). The company had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, analysts predict that Essential Utilities, Inc. will post 1.94 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.3255 dividend. This is a positive change from Essential Utilities's previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Monday, August 12th. Essential Utilities's payout ratio is currently 61.61%.

Analyst Upgrades and Downgrades

WTRG has been the subject of several research analyst reports. Robert W. Baird boosted their target price on Essential Utilities from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Finally, Evercore ISI increased their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $44.40.

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.