Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC grew its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4,309.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 position. Pathway Financial Advisers LLC owned 0.46% of Essential Utilities worth $48,424,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Essential Utilities by 24.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,120 shares of the company's stock valued at $5,636,000 after buying an additional 30,152 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Essential Utilities by 12.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company's stock worth $5,171,000 after purchasing an additional 15,009 shares during the period. Nordea Investment Management AB boosted its position in shares of Essential Utilities by 17,553.7% during the 1st quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company's stock worth $126,156,000 after purchasing an additional 3,405,947 shares during the period. Epoch Investment Partners Inc. acquired a new stake in Essential Utilities in the 1st quarter valued at approximately $46,280,000. Finally, Boston Trust Walden Corp raised its position in Essential Utilities by 350.3% in the second quarter. Boston Trust Walden Corp now owns 903,372 shares of the company's stock valued at $33,723,000 after purchasing an additional 702,760 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WTRG. Bank of America restated a "buy" rating and set a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. 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 report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Essential Utilities in a research report on Monday, October 7th. They set a "buy" rating and a $44.00 price target on the stock. Robert W. Baird lifted their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $44.80.

Essential Utilities Stock Up 0.1 %

Essential Utilities stock traded up $0.03 during trading on Wednesday, reaching $38.53. The stock had a trading volume of 921,680 shares, compared to its average volume of 1,519,836. 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 52-week low of $33.00 and a 52-week high of $41.78. The stock has a market cap of $10.54 billion, a PE ratio of 18.78, a P/E/G ratio of 3.37 and a beta of 0.84. The business has a 50 day moving average price of $39.03 and a 200 day moving average price of $38.51.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to analysts' expectations of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. Essential Utilities's revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. On average, analysts predict that Essential Utilities, Inc. will post 1.99 EPS 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 issued a $0.3255 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Essential Utilities's previous quarterly dividend of $0.31. Essential Utilities's dividend payout ratio is presently 63.41%.

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.