Qsemble Capital Management LP Makes New $748,000 Investment in Essential Utilities, Inc. (NYSE:WTRG)

Qsemble Capital Management LP bought a new stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,400 shares of the company's stock, valued at approximately $748,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WTRG. CIBC Asset Management Inc increased its position in Essential Utilities by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company's stock valued at $549,000 after acquiring an additional 250 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after purchasing an additional 294 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in shares of Essential Utilities by 4.5% in the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company's stock valued at $259,000 after purchasing an additional 297 shares during the period. Tompkins Financial Corp raised its stake in shares of Essential Utilities by 21.7% during the third 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, V Square Quantitative Management LLC lifted its holdings in shares of Essential Utilities by 10.6% during the third quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company's stock worth $134,000 after purchasing an additional 333 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WTRG has been the topic of several recent research reports. Bank of America reissued a "buy" rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Evercore ISI boosted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Jefferies Financial Group downgraded shares of Essential Utilities from a "buy" rating to a "hold" rating and reduced their price objective for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Robert W. Baird lifted their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their target price on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.

Essential Utilities Price Performance

Shares of NYSE WTRG traded up $0.37 during midday trading on Wednesday, hitting $40.41. The company had a trading volume of 187,291 shares, compared to its average volume of 1,524,173. 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 business has a 50-day simple moving average of $39.06 and a two-hundred day simple moving average of $38.86. Essential Utilities, Inc. has a twelve month low of $33.57 and a twelve month high of $41.78. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The company had revenue of $435.30 million during the quarter, compared to analysts' expectations of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Equities research analysts anticipate that Essential Utilities, Inc. will post 2.01 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 dividend on an annualized basis and a yield of 3.22%. Essential Utilities's payout ratio is 65.00%.

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.