Pathway Financial Advisers LLC Has $48.42 Million Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Pathway Financial Advisers LLC boosted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4,309.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,255,483 shares of the company's stock after purchasing an additional 1,227,010 shares during the period. Essential Utilities makes up 0.5% of Pathway Financial Advisers LLC's investment portfolio, making the stock its 28th largest holding. Pathway Financial Advisers LLC owned about 0.46% of Essential Utilities worth $48,424,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WTRG. Kingswood Wealth Advisors LLC grew its stake in Essential Utilities by 4.5% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company's stock worth $259,000 after acquiring an additional 297 shares during the period. V Square Quantitative Management LLC boosted its stake in Essential Utilities by 10.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company's stock valued at $134,000 after acquiring an additional 333 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its position in Essential Utilities by 5.4% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company's stock worth $240,000 after purchasing an additional 334 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Essential Utilities by 5.5% in the first quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company's stock valued at $241,000 after purchasing an additional 339 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Essential Utilities by 8.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,416 shares of the company's stock valued at $165,000 after buying an additional 352 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

Essential Utilities stock traded up $0.24 during trading hours on Wednesday, reaching $38.74. 2,073,690 shares of the company were exchanged, compared to its average volume of 1,525,321. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average of $39.02 and a 200 day moving average of $38.52. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 3.37 and a beta of 0.84. Essential Utilities, Inc. has a 12 month low of $33.00 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.02). The business had revenue of $434.40 million for the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.3255 dividend. This is a boost from Essential Utilities's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.36%. Essential Utilities's dividend payout ratio is currently 63.41%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Evercore ISI lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a research report on Thursday, August 8th. Wells Fargo & Company raised their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Robert W. Baird raised their price objective on Essential Utilities from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Bank of America reissued a "buy" rating and set a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Jefferies Financial Group began coverage on Essential Utilities in a research note on Monday, October 7th. They set a "buy" rating and a $44.00 target price on the stock. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $44.80.

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.