Virtu Financial LLC Acquires Shares of 6,736 Essential Utilities, Inc. (NYSE:WTRG)

Virtu Financial LLC bought a new stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,736 shares of the company's stock, valued at approximately $245,000.

Several other large investors have also modified their holdings of the business. Magnetar Financial LLC bought a new position in Essential Utilities in the fourth quarter worth approximately $2,720,000. Koss Olinger Consulting LLC purchased a new position in shares of Essential Utilities in the 4th quarter valued at $400,000. VSM Wealth Advisory LLC bought a new position in shares of Essential Utilities in the 4th quarter worth $26,000. Xponance Inc. lifted its stake in shares of Essential Utilities by 8.3% during the 4th quarter. Xponance Inc. now owns 42,397 shares of the company's stock worth $1,540,000 after purchasing an additional 3,249 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in Essential Utilities during the fourth quarter valued at about $1,290,000. Institutional investors own 74.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WTRG shares. Wells Fargo & Company boosted their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. 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 note on Tuesday, January 14th. Evercore ISI increased their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.50.

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Essential Utilities Stock Performance

WTRG stock traded down $0.14 during trading on Wednesday, reaching $39.41. The company had a trading volume of 1,168,423 shares, compared to its average volume of 1,454,246. The company has a market cap of $10.86 billion, a price-to-earnings ratio of 19.71, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month 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 firm has a 50-day simple moving average of $37.30 and a 200-day simple moving average of $37.82.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, sell-side analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 presently 59.91%.

Essential Utilities Company 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.