Assenagon Asset Management S.A. Has $1.48 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

Assenagon Asset Management S.A. raised its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 286.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,373 shares of the company's stock after buying an additional 28,444 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Essential Utilities were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTRG. Friedenthal Financial bought a new stake in shares of Essential Utilities in the 3rd quarter valued at $25,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Essential Utilities during the second quarter worth about $37,000. Bfsg LLC lifted its holdings in shares of Essential Utilities by 157.0% during the 3rd quarter. Bfsg LLC now owns 1,190 shares of the company's stock valued at $46,000 after purchasing an additional 727 shares in the last quarter. Mascoma Wealth Management LLC acquired a new position in shares of Essential Utilities in the 2nd quarter valued at approximately $66,000. Finally, Cultivar Capital Inc. bought a new stake in Essential Utilities during the 2nd quarter worth approximately $70,000. Institutional investors own 74.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WTRG shares. Wells Fargo & Company upped their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Robert W. Baird upped their target price on shares of 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 issued a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Jefferies Financial Group initiated coverage on Essential Utilities in a research report on Monday, October 7th. They set a "buy" rating and a $44.00 price objective for the company. Finally, 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. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.80.

Essential Utilities Stock Performance

Shares of NYSE:WTRG traded down $0.36 on Friday, hitting $38.24. The company had a trading volume of 1,792,403 shares, compared to its average volume of 1,311,991. The stock has a 50 day moving average price of $38.99 and a 200 day moving average price of $38.57. 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 market cap of $10.47 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 3.35 and a beta of 0.84. Essential Utilities, Inc. has a 1-year low of $33.28 and a 1-year high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued 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 company 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 company's revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. Analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.3255 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.40%. Essential Utilities's dividend payout ratio is presently 63.41%.

Essential Utilities 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.