Van ECK Associates Corp Increases Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Van ECK Associates Corp lifted its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 108.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 150,332 shares of the company's stock after acquiring an additional 78,121 shares during the quarter. Van ECK Associates Corp owned 0.05% of Essential Utilities worth $5,460,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Essential Utilities in the third quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in shares of Essential Utilities in the third quarter worth $28,000. First Horizon Advisors Inc. increased its position in shares of Essential Utilities by 61.4% during the third 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 period. Truvestments Capital LLC acquired a new stake in shares of Essential Utilities in the third quarter valued at $42,000. Finally, Farther Finance Advisors LLC boosted its holdings in Essential Utilities by 81.2% in the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company's stock valued at $44,000 after purchasing an additional 515 shares during the period. Hedge funds and other institutional investors own 74.78% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on WTRG shares. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. Robert W. Baird upped their price target on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Wells Fargo & Company lowered shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. Finally, UBS Group reduced 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 report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Essential Utilities presently has an average rating of "Moderate Buy" and an average price target of $43.00.

Essential Utilities Price Performance

NYSE:WTRG traded up $0.62 during trading hours on Friday, hitting $36.58. The company's stock had a trading volume of 1,842,619 shares, compared to its average volume of 1,427,550. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The business's 50-day moving average is $35.58 and its two-hundred day moving average is $37.94. The company has a market capitalization of $10.04 billion, a PE ratio of 18.29, a PEG ratio of 2.54 and a beta of 0.86.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.56%. Essential Utilities's dividend payout ratio is presently 65.00%.

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.