10,695 Shares in Essential Utilities, Inc. (NYSE:WTRG) Purchased by Independent Advisor Alliance

Independent Advisor Alliance purchased a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,695 shares of the company’s stock, valued at approximately $388,000.

A number of other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its position in Essential Utilities by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock valued at $2,001,000 after buying an additional 803 shares during the period. Synergy Asset Management LLC boosted its position in Essential Utilities by 92.8% in the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock valued at $5,529,000 after buying an additional 71,222 shares during the period. Nordea Investment Management AB boosted its position in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after buying an additional 972,803 shares during the period. Brighton Jones LLC purchased a new stake in Essential Utilities in the 4th quarter valued at about $638,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Essential Utilities by 8.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,871,932 shares of the company’s stock valued at $72,200,000 after buying an additional 149,162 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WTRG has been the subject of several research reports. UBS Group lowered their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company upped their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Evercore ISI boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group upgraded 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Stock Up 0.9 %

WTRG stock opened at $39.84 on Tuesday. The firm’s fifty day simple moving average is $36.27 and its 200-day simple moving average is $37.83. The company has a market capitalization of $10.95 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. 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 12 month low of $33.18 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $698.77 million. As a group, equities research analysts forecast 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. Investors of record on Tuesday, May 13th will be issued 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 (DPR) is presently 59.91%.

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.