Sigma Planning Corp reduced its position in shares of Essential Utilities, Inc. (NYSE:WTRG – Free Report) by 20.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,470 shares of the company’s stock after selling 1,680 shares during the period. Sigma Planning Corp’s holdings in Essential Utilities were worth $235,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its stake in Essential Utilities by 16.7% in the fourth 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 last quarter. Geode Capital Management LLC increased its stake in Essential Utilities by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock valued at $165,701,000 after acquiring an additional 82,456 shares during the last quarter. Duff & Phelps Investment Management Co. increased its stake in Essential Utilities by 4.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after acquiring an additional 100,990 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Essential Utilities by 7.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock valued at $83,088,000 after acquiring an additional 145,767 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in Essential Utilities by 8.4% in the fourth quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock valued at $77,249,000 after acquiring an additional 164,215 shares during the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.
Essential Utilities Stock Up 1.0 %
Shares of NYSE:WTRG opened at $37.96 on Friday. The stock’s 50-day moving average price is $35.60 and its 200-day moving average price is $37.85. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock has a market capitalization of $10.42 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. 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 (NYSE:WTRG – Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $604.38 million during 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 analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.
Essential Utilities Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.43%. Essential Utilities’s dividend payout ratio is currently 65.00%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the company. UBS Group reduced their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company increased their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird raised their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.33.
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.
Further Reading
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