Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,699 shares of the company’s stock after purchasing an additional 2,193 shares during the period. Daiwa Securities Group Inc.’s holdings in Essential Utilities were worth $885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hamilton Point Investment Advisors LLC boosted its holdings in shares of Essential Utilities by 0.5% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 69,788 shares of the company’s stock worth $2,607,000 after purchasing an additional 342 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Essential Utilities in the fourth quarter valued at approximately $207,000. Louisiana State Employees Retirement System acquired a new position in Essential Utilities in the fourth quarter valued at approximately $2,637,000. First Personal Financial Services lifted its holdings in Essential Utilities by 1.3% in the fourth quarter. First Personal Financial Services now owns 43,196 shares of the company’s stock valued at $1,613,000 after acquiring an additional 535 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Essential Utilities by 106.4% in the fourth quarter. Cerity Partners LLC now owns 18,397 shares of the company’s stock valued at $687,000 after acquiring an additional 9,483 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at $2,149,100.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Essential Utilities Stock Up 0.8 %

Shares of NYSE WTRG opened at $36.54 on Thursday. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 3.15 and a beta of 0.82. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $44.05. The business’s 50 day moving average is $35.74 and its two-hundred day moving average is $35.72.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $479.40 million for 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 firm’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 earnings per share. Research analysts predict that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.3071 dividend. 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. This represents a $1.23 dividend on an annualized basis and a yield of 3.36%. Essential Utilities’s payout ratio is presently 66.13%.

Analysts Set New Price Targets

Separately, Evercore ISI decreased their price objective on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.