Essential Utilities, Inc. (NYSE:WTRG) Stock Position Increased by Empower Advisory Group LLC

Empower Advisory Group LLC lifted its position in Essential Utilities, Inc. (NYSE:WTRG) by 5.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,585,475 shares of the company’s stock after buying an additional 84,596 shares during the period. Empower Advisory Group LLC owned approximately 0.58% of Essential Utilities worth $61,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WTRG. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Essential Utilities by 24.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,120 shares of the company’s stock worth $5,636,000 after purchasing an additional 30,152 shares during the period. Price T Rowe Associates Inc. MD raised its position in Essential Utilities by 12.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company’s stock valued at $5,171,000 after buying an additional 15,009 shares during the period. Epoch Investment Partners Inc. acquired a new position in Essential Utilities during the first quarter valued at $46,280,000. Boston Trust Walden Corp grew its stake in Essential Utilities by 350.3% in the second quarter. Boston Trust Walden Corp now owns 903,372 shares of the company’s stock valued at $33,723,000 after purchasing an additional 702,760 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Essential Utilities by 231.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 306,588 shares of the company’s stock worth $11,359,000 after acquiring an additional 214,031 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on WTRG shares. Evercore ISI upped their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird lifted their price objective 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 cut their price objective on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Bank of America reaffirmed a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Finally, Jefferies Financial Group lowered Essential Utilities from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.00.

Essential Utilities Price Performance

Essential Utilities stock opened at $39.05 on Wednesday. The firm has a market capitalization of $10.72 billion, a P/E ratio of 19.53, a PEG ratio of 3.16 and a beta of 0.84. Essential Utilities, Inc. has a 1 year low of $33.28 and a 1 year high of $41.78. The business has a 50-day moving average of $39.07 and a 200-day moving average of $38.78. 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) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Essential Utilities’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. On average, equities analysts anticipate that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s dividend payout ratio is currently 65.00%.

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.