Keybank National Association OH Sells 440 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Keybank National Association OH trimmed its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,715 shares of the company’s stock after selling 440 shares during the period. Keybank National Association OH’s holdings in Essential Utilities were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in Essential Utilities by 10.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,071,868 shares of the company’s stock worth $75,250,000 after acquiring an additional 199,936 shares in the last quarter. State of Michigan Retirement System grew its holdings in Essential Utilities by 12.5% during the 4th quarter. State of Michigan Retirement System now owns 67,271 shares of the company’s stock worth $2,443,000 after acquiring an additional 7,500 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Essential Utilities by 0.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 38,652 shares of the company’s stock valued at $1,404,000 after buying an additional 356 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Essential Utilities by 31.3% in the 4th quarter. Jones Financial Companies Lllp now owns 240,233 shares of the company’s stock valued at $8,725,000 after buying an additional 57,291 shares in the last quarter. Finally, John G Ullman & Associates Inc. boosted its holdings in shares of Essential Utilities by 33.0% in the 4th quarter. John G Ullman & Associates Inc. now owns 282,050 shares of the company’s stock valued at $10,244,000 after buying an additional 69,928 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $39.81 on Monday. The firm has a market capitalization of $10.95 billion, a P/E ratio of 19.91, a PEG ratio of 2.57 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average price of $35.85 and a 200 day moving average price of $37.80. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78.

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

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is presently 59.91%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. 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. Jefferies Financial Group upgraded shares of 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. Finally, Evercore ISI raised their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

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.