Choreo LLC Reduces Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Choreo LLC trimmed its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 7.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,155 shares of the company’s stock after selling 1,286 shares during the quarter. Choreo LLC’s holdings in Essential Utilities were worth $550,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WTRG. Glenmede Trust Co. NA increased its stake in Essential Utilities by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock worth $2,001,000 after acquiring an additional 803 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in shares of Essential Utilities by 92.8% in the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock worth $5,529,000 after purchasing an additional 71,222 shares during the period. Nordea Investment Management AB increased its position in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Empower Advisory Group LLC increased its position in shares of Essential Utilities by 5.6% during the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock valued at $61,152,000 after purchasing an additional 84,596 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in Essential Utilities during the 4th quarter valued at $638,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 1.3 %

WTRG stock opened at $35.38 on Wednesday. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The firm’s 50-day moving average is $36.15 and its 200 day moving average is $38.20. The company has a market capitalization of $9.71 billion, a PE ratio of 17.69, a P/E/G ratio of 2.53 and a beta of 0.87. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th 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 3.68%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analysts Forecast Growth

WTRG has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. Robert W. Baird lifted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

About Essential Utilities

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.