Sigma Planning Corp Cuts Position in Essential Utilities, Inc. (NYSE:WTRG)

Sigma Planning Corp lessened its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 20.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,470 shares of the company’s stock after selling 1,680 shares during the period. Sigma Planning Corp’s holdings in Essential Utilities were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allianz Asset Management GmbH boosted its stake in shares of Essential Utilities by 51.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,935,818 shares of the company’s stock worth $70,309,000 after buying an additional 656,136 shares during the last quarter. Northcape Wealth Management LLC bought a new stake in shares of Essential Utilities in the 4th quarter worth approximately $489,000. Atria Wealth Solutions Inc. bought a new stake in shares of Essential Utilities in the 4th quarter worth approximately $504,000. Empower Advisory Group LLC raised its holdings in shares of Essential Utilities by 4.7% in the 4th quarter. Empower Advisory Group LLC now owns 1,660,038 shares of the company’s stock worth $60,293,000 after purchasing an additional 74,563 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Essential Utilities by 6,305.9% in the 4th quarter. Allworth Financial LP now owns 187,180 shares of the company’s stock worth $6,291,000 after purchasing an additional 184,258 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on WTRG shares. Wells Fargo & Company lifted their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday. UBS Group lowered 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. 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 report on Wednesday, November 6th. Finally, Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. One investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Essential Utilities Trading Up 1.0 %

Shares of WTRG stock opened at $37.96 on Friday. The company’s fifty day simple moving average is $35.60 and its two-hundred day simple moving average is $37.85. 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, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.57 and a beta of 0.87.

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

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.43%. Essential Utilities’s dividend payout ratio (DPR) is currently 65.00%.

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.