Pathway Financial Advisers LLC Has $1.22 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

Pathway Financial Advisers LLC cut its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 97.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,487 shares of the company's stock after selling 1,221,996 shares during the quarter. Pathway Financial Advisers LLC's holdings in Essential Utilities were worth $1,216,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock worth $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Geode Capital Management LLC grew its position in Essential Utilities by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company's stock worth $165,701,000 after buying an additional 82,456 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in Essential Utilities by 4.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company's stock valued at $97,632,000 after acquiring an additional 100,990 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Essential Utilities by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company's stock worth $83,088,000 after acquiring an additional 145,767 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in shares of Essential Utilities by 8.4% during the 4th quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company's stock worth $77,249,000 after purchasing an additional 164,215 shares in the last quarter. Institutional investors own 74.78% of the company's stock.

Essential Utilities Price Performance

Shares of WTRG stock traded down $0.62 during trading hours on Monday, hitting $35.21. 910,371 shares of the company's stock were exchanged, compared to its average volume of 1,495,728. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock's 50-day moving average is $35.85 and its 200-day moving average is $38.06.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.70%. Essential Utilities's dividend payout ratio (DPR) is currently 65.00%.

Analyst Upgrades and Downgrades

WTRG has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price for the company in a research note on Tuesday, January 28th. Wells Fargo & Company downgraded shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Robert W. Baird upped their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Finally, UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

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.