Robert A. Rubin Sells 5,565 Shares of Essential Utilities, Inc. (NYSE:WTRG) Stock

Essential Utilities, Inc. (NYSE:WTRGGet Free Report) CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.21, for a total value of $207,073.65. Following the transaction, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Essential Utilities Price Performance

NYSE:WTRG opened at $36.03 on Thursday. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.31 and a beta of 0.82. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $45.29. The business has a 50 day simple moving average of $35.86 and a 200-day simple moving average of $35.66. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.62 and a quick ratio of 0.48.

Essential Utilities (NYSE:WTRGGet Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The business had revenue of $479.40 million during the quarter, compared to analyst estimates of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The company’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Equities analysts forecast that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.3071 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.41%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities’s dividend payout ratio (DPR) is presently 66.13%.

Institutional Investors Weigh In On Essential Utilities

Several institutional investors have recently modified their holdings of the stock. LPL Financial LLC lifted its stake in shares of Essential Utilities by 14.2% during the 3rd quarter. LPL Financial LLC now owns 235,841 shares of the company’s stock worth $8,096,000 after acquiring an additional 29,372 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Essential Utilities by 94.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 81,799 shares of the company’s stock worth $2,808,000 after acquiring an additional 39,643 shares during the last quarter. Mariner LLC lifted its stake in shares of Essential Utilities by 9.9% during the 3rd quarter. Mariner LLC now owns 34,360 shares of the company’s stock worth $1,180,000 after acquiring an additional 3,104 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Essential Utilities by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,168,585 shares of the company’s stock worth $932,698,000 after acquiring an additional 99,560 shares during the last quarter. Finally, Secure Asset Management LLC bought a new stake in shares of Essential Utilities during the 4th quarter worth approximately $1,305,000. 74.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Evercore ISI cut their price target on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Essential Utilities currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

View Our Latest Stock Report on WTRG

Essential Utilities Company Profile

(Get Free Report)

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.

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