Proficio Capital Partners LLC Invests $1.62 Million in Essential Utilities, Inc. (NYSE:WTRG)

Proficio Capital Partners LLC acquired a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 44,637 shares of the company's stock, valued at approximately $1,621,000.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Essential Utilities by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company's stock worth $549,000 after purchasing an additional 250 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Essential Utilities by 4.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company's stock worth $230,000 after purchasing an additional 289 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after purchasing an additional 294 shares during the last quarter. Tompkins Financial Corp increased its position in shares of Essential Utilities by 21.7% in the 3rd quarter. Tompkins Financial Corp now owns 1,685 shares of the company's stock worth $65,000 after purchasing an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Essential Utilities by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company's stock worth $2,546,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

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Essential Utilities Stock Performance

NYSE WTRG traded up $1.36 on Friday, hitting $39.81. The stock had a trading volume of 2,085,018 shares, compared to its average volume of 1,572,923. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.57 and a beta of 0.79. The company's 50-day moving average is $35.85 and its two-hundred day moving average is $37.81.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million during the quarter, compared to analysts' expectations of $698.77 million. On average, analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is 59.91%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WTRG. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. UBS Group lowered their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company boosted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Finally, Evercore ISI boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

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.