Rhumbline Advisers Lowers Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Rhumbline Advisers lowered its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 800,784 shares of the company's stock after selling 39,993 shares during the period. Rhumbline Advisers owned approximately 0.29% of Essential Utilities worth $29,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Essential Utilities in the 3rd quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities in the 3rd quarter worth about $28,000. First Horizon Advisors Inc. raised its holdings 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 acquiring an additional 294 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Essential Utilities in the 3rd quarter worth about $42,000. Finally, Farther Finance Advisors LLC increased its stake in Essential Utilities by 81.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company's stock valued at $44,000 after buying an additional 515 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Performance

WTRG traded up $0.62 on Friday, hitting $36.58. The company's stock had a trading volume of 1,842,627 shares, compared to its average volume of 1,287,717. The company's 50 day simple moving average is $35.54 and its 200-day simple moving average is $37.92. The firm has a market cap of $10.04 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month 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.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 65.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WTRG shares. UBS Group decreased 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 note on Tuesday, January 14th. Wells Fargo & Company lowered shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. Robert W. Baird increased their price objective 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, Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

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.