Massmutual Trust Co. FSB ADV Buys 3,127 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Massmutual Trust Co. FSB ADV raised its stake in Essential Utilities, Inc. (NYSE:WTRG) by 206.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,640 shares of the company’s stock after acquiring an additional 3,127 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Essential Utilities were worth $173,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc bought a new position in Essential Utilities during the 4th quarter valued at about $25,000. Tradewinds Capital Management LLC boosted its position in Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after buying an additional 626 shares during the period. Lindbrook Capital LLC boosted its position in Essential Utilities by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after buying an additional 325 shares during the period. Valley National Advisers Inc. lifted its position in shares of Essential Utilities by 4,210.0% in the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after purchasing an additional 842 shares during the period. Finally, VisionPoint Advisory Group LLC lifted its position in shares of Essential Utilities by 52.9% in the 4th quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock worth $36,000 after purchasing an additional 338 shares during the period. 74.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WTRG shares. Robert W. Baird cut their price target on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Wells Fargo & Company raised their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, Essential Utilities has a consensus rating of “Moderate Buy” and an average price target of $43.40.

Essential Utilities Stock Down 2.2 %

Shares of NYSE:WTRG traded down $0.93 during trading on Monday, hitting $40.56. 2,203,296 shares of the company were exchanged, compared to its average volume of 1,593,572. The stock has a market capitalization of $11.09 billion, a P/E ratio of 19.66, a PEG ratio of 3.63 and a beta of 0.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.62 and a quick ratio of 0.52. Essential Utilities, Inc. has a 12-month low of $32.07 and a 12-month high of $41.78. The firm’s 50 day moving average price is $38.37 and its 200-day moving average price is $37.10.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Thursday, May 2nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). The business had revenue of $612.07 million during the quarter, compared to analyst estimates of $747.44 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. On average, research analysts predict that Essential Utilities, Inc. will post 1.97 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a $0.3255 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Monday, August 12th. Essential Utilities’s payout ratio is currently 61.61%.

Insider Buying and Selling at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.43, for a total transaction of $87,661.06. Following the transaction, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

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.