Principal Securities Inc. Trims Stake in Essential Utilities, Inc. (NYSE:WTRG)

Principal Securities Inc. reduced its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 52.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,105 shares of the company’s stock after selling 2,283 shares during the quarter. Principal Securities Inc.’s holdings in Essential Utilities were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC increased its holdings in Essential Utilities by 15.1% during the 4th quarter. Manchester Capital Management LLC now owns 10,668 shares of the company’s stock worth $387,000 after purchasing an additional 1,398 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in Essential Utilities by 4.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company’s stock worth $230,000 after purchasing an additional 289 shares during the period. Vontobel Holding Ltd. increased its holdings in Essential Utilities by 8.2% during the 4th quarter. Vontobel Holding Ltd. now owns 104,213 shares of the company’s stock worth $3,785,000 after purchasing an additional 7,929 shares during the period. Van ECK Associates Corp increased its holdings in Essential Utilities by 108.2% during the 4th quarter. Van ECK Associates Corp now owns 150,332 shares of the company’s stock worth $5,460,000 after purchasing an additional 78,121 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in Essential Utilities by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company’s stock worth $2,546,000 after purchasing an additional 300 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 1.2 %

Shares of NYSE:WTRG opened at $37.54 on Thursday. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The business’s fifty day simple moving average is $35.54 and its 200-day simple moving average is $37.86. The company has a market capitalization of $10.31 billion, a PE ratio of 18.77, a P/E/G ratio of 2.57 and a beta of 0.87. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. As a group, equities research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.47%. Essential Utilities’s payout ratio is 65.00%.

Analyst Ratings Changes

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

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.