Synergy Asset Management LLC Boosts Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Synergy Asset Management LLC boosted its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 92.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,009 shares of the company's stock after purchasing an additional 71,222 shares during the period. Synergy Asset Management LLC owned about 0.05% of Essential Utilities worth $5,529,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WTRG. Glenmede Trust Co. NA raised its holdings in Essential Utilities by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company's stock valued at $2,001,000 after acquiring an additional 803 shares during the period. Empower Advisory Group LLC raised its holdings in Essential Utilities by 5.6% during the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company's stock valued at $61,152,000 after acquiring an additional 84,596 shares during the period. Nordea Investment Management AB raised its holdings in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock valued at $247,134,000 after acquiring an additional 972,803 shares during the period. MBB Public Markets I LLC bought a new stake in Essential Utilities during the 2nd quarter valued at $708,000. Finally, Brighton Jones LLC bought a new stake in Essential Utilities during the 4th quarter valued at $638,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Price Performance

WTRG traded up $0.55 during trading on Monday, reaching $36.03. The stock had a trading volume of 1,429,920 shares, compared to its average volume of 1,538,920. The stock has a market cap of $9.89 billion, a PE ratio of 18.01, a PEG ratio of 2.54 and a beta of 0.87. 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 one year low of $33.18 and a one year high of $41.78. The business has a 50-day moving average of $36.72 and a 200-day moving average of $38.43.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to analysts' expectations of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. As a group, equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.61%. Essential Utilities's dividend payout ratio is presently 65.00%.

Analyst Ratings Changes

WTRG has been the topic of a number of analyst reports. Wells Fargo & Company cut shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a report on Tuesday, January 28th. Finally, UBS Group decreased their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.