Blue Trust Inc. Lowers Stake in Essential Utilities, Inc. (NYSE:WTRG)

Blue Trust Inc. cut its stake in Essential Utilities, Inc. (NYSE:WTRG) by 40.8% during the fourth quarter, HoldingsChannel reports. The fund owned 710 shares of the company’s stock after selling 489 shares during the quarter. Blue Trust Inc.’s holdings in Essential Utilities were worth $26,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Essential Utilities in the third quarter valued at about $3,785,000. Assenagon Asset Management S.A. boosted its holdings in shares of Essential Utilities by 286.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 38,373 shares of the company’s stock valued at $1,480,000 after buying an additional 28,444 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Essential Utilities by 11.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,087 shares of the company’s stock valued at $1,816,000 after buying an additional 4,666 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Essential Utilities by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 29,256 shares of the company’s stock worth $1,128,000 after buying an additional 1,985 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Essential Utilities by 4.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,024 shares of the company’s stock worth $309,000 after acquiring an additional 337 shares in the last quarter. 74.78% of the stock is owned by institutional investors.

Essential Utilities Price Performance

Shares of WTRG opened at $37.65 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 company’s fifty day moving average price is $35.57 and its 200-day moving average price is $37.86. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The firm has a market capitalization of $10.34 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company 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%. On average, equities research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.46%. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, January 28th. 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. Robert W. Baird boosted their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company upped their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.33.

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.