Schrum Private Wealth Management LLC Invests $222,000 in Essential Utilities, Inc. (NYSE:WTRG)

Schrum Private Wealth Management LLC purchased a new stake in Essential Utilities, Inc. (NYSE:WTRG) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,750 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Friedenthal Financial bought a new stake in shares of Essential Utilities in the 3rd quarter valued at approximately $25,000. Voisard Asset Management Group Inc. purchased a new stake in Essential Utilities during the 2nd quarter valued at $37,000. Farther Finance Advisors LLC lifted its position in Essential Utilities by 81.2% in the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock worth $44,000 after buying an additional 515 shares during the last quarter. Bfsg LLC lifted its position in Essential Utilities by 157.0% in the third quarter. Bfsg LLC now owns 1,190 shares of the company’s stock worth $46,000 after buying an additional 727 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Essential Utilities during the third quarter worth $50,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Essential Utilities stock opened at $38.53 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 3.10 and a beta of 0.84. The firm has a 50-day moving average of $39.07 and a two-hundred day moving average of $38.78. Essential Utilities, Inc. has a 1 year low of $33.57 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Essential Utilities’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, research analysts forecast that Essential Utilities, Inc. will post 2.01 earnings per share for the current year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s payout ratio is 65.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WTRG shares. Bank of America reissued a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Wells Fargo & Company dropped their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Robert W. Baird upped their target price 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, Evercore ISI raised 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.00.

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.