Verus Wealth Management LLC Takes $361,000 Position in Essential Utilities, Inc. (NYSE:WTRG)

Verus Wealth Management LLC purchased a new stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,947 shares of the company's stock, valued at approximately $361,000.

Other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Essential Utilities by 4.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 95,426 shares of the company's stock worth $3,562,000 after acquiring an additional 3,987 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Essential Utilities by 44.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 34,080 shares of the company's stock valued at $1,272,000 after purchasing an additional 10,437 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Essential Utilities in the 2nd quarter valued at $1,016,000. MBB Public Markets I LLC bought a new position in shares of Essential Utilities in the 2nd quarter valued at $708,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Essential Utilities by 134.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,560 shares of the company's stock worth $282,000 after buying an additional 4,340 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WTRG has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a research report on Tuesday. 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. Robert W. Baird increased their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company cut shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Essential Utilities Trading Down 0.0 %

WTRG traded down $0.01 during trading on Friday, reaching $35.46. 2,010,732 shares of the company's stock were exchanged, compared to its average volume of 1,383,576. The stock has a market capitalization of $9.74 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 2.52 and a beta of 0.86. The firm has a fifty day moving average price of $36.72 and a two-hundred day moving average price of $38.46. 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 one year low of $33.18 and a one year high of $41.78.

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

Essential Utilities Dividend Announcement

The firm 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 dividend of $0.3255 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a yield of 3.67%. Essential Utilities's dividend payout ratio is currently 65.00%.

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.