Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Rodgers Brothers Inc.

Rodgers Brothers Inc. increased its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 34.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,913 shares of the company's stock after purchasing an additional 18,475 shares during the quarter. Rodgers Brothers Inc.'s holdings in Essential Utilities were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WTRG. Brooklyn Investment Group acquired a new stake in Essential Utilities in the third quarter valued at $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities in the 4th quarter valued at about $26,000. IFP Advisors Inc lifted its position in shares of Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after purchasing an additional 473 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Essential Utilities in the fourth quarter worth about $45,000. Finally, Stonebridge Financial Group LLC bought a new stake in Essential Utilities in the fourth quarter valued at about $60,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. Evercore ISI raised their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. UBS Group lowered their target price 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. Finally, Wells Fargo & Company raised their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

Remove Ads

Essential Utilities Stock Performance

Shares of Essential Utilities stock traded down $1.10 during trading on Friday, hitting $39.54. 2,229,128 shares of the stock were exchanged, compared to its average volume of 1,460,498. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.98. The stock's fifty day moving average is $37.44 and its 200 day moving average is $37.84. The stock has a market cap of $10.89 billion, a PE ratio of 19.79, a P/E/G ratio of 2.57 and a beta of 0.80.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.29%. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

Essential Utilities Company 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.