Essential Utilities, Inc. (NYSE:WTRG) Stake Increased by Secure Asset Management LLC

Secure Asset Management LLC boosted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 12.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,332 shares of the company’s stock after purchasing an additional 4,920 shares during the period. Secure Asset Management LLC’s holdings in Essential Utilities were worth $1,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC lifted its holdings in shares of Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock valued at $48,424,000 after acquiring an additional 1,227,010 shares during the period. Boston Trust Walden Corp boosted its stake in Essential Utilities by 117.3% in the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock valued at $75,701,000 after acquiring an additional 1,059,320 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Essential Utilities in the third quarter worth about $30,842,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Essential Utilities by 33.1% in the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock valued at $36,795,000 after purchasing an additional 237,096 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Price Performance

Shares of Essential Utilities stock opened at $33.56 on Friday. 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 capitalization of $9.22 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 2.40 and a beta of 0.86. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The business’s 50 day simple moving average is $37.29 and its two-hundred day simple moving average is $38.64.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. Analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, February 10th. Essential Utilities’s payout ratio is presently 65.00%.

Wall Street Analyst Weigh In

WTRG has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. UBS Group decreased their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and dropped their price target for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Finally, Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

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.