Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 112.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,590 shares of the company's stock after acquiring an additional 66,959 shares during the period. Thrivent Financial for Lutherans' holdings in Essential Utilities were worth $4,597,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in Essential Utilities during the third quarter worth $26,000. First Horizon Advisors Inc. raised its stake in shares of Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after buying an additional 294 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after buying an additional 473 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Essential Utilities in the 3rd quarter worth about $42,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Essential Utilities in the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Trading Down 0.6 %

Shares of NYSE WTRG traded down $0.21 on Tuesday, reaching $37.94. 1,379,887 shares of the company traded hands, compared to its average volume of 1,371,363. The company has a 50 day moving average of $36.69 and a 200 day moving average of $37.82. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The stock has a market capitalization of $10.43 billion, a PE ratio of 18.97, a P/E/G ratio of 2.57 and a beta of 0.79.

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Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating 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 net margin of 27.84% and a return on equity of 7.89%. On average, equities research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is currently 59.91%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. 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 research report on Tuesday, January 28th. Wells Fargo & Company upped their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Finally, UBS Group lowered their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Essential Utilities has an average rating of "Moderate Buy" and a consensus price target of $43.50.

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.