Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Sei Investments Co.

Sei Investments Co. increased its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 163.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,156 shares of the company's stock after acquiring an additional 106,735 shares during the period. Sei Investments Co. owned about 0.06% of Essential Utilities worth $6,253,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. VSM Wealth Advisory LLC bought a new stake in Essential Utilities during the 4th quarter valued at $26,000. IFP Advisors Inc raised its stake 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 valued at $40,000 after acquiring an additional 473 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Essential Utilities during the 4th quarter valued at $60,000. Crews Bank & Trust bought a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $90,000. Finally, Quarry LP purchased a new position in shares of Essential Utilities during the third quarter valued at approximately $150,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Price Performance

NYSE WTRG traded down $0.14 on Wednesday, hitting $39.41. The company had a trading volume of 1,168,423 shares, compared to its average volume of 1,454,246. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The company's fifty day moving average price is $37.19 and its 200-day moving average price is $37.81. 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 company has a market capitalization of $10.86 billion, a PE ratio of 19.71, a PEG ratio of 2.57 and a beta of 0.79.

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Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 7.89% and a net margin of 27.84%. As a group, analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.30%. Essential Utilities's payout ratio is 59.91%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WTRG shares. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a report on Tuesday, January 28th. UBS Group decreased their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Evercore ISI upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company lifted 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 note 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.