Wealthfront Advisers LLC Purchases New Shares in Essential Utilities, Inc. (NYSE:WTRG)

Wealthfront Advisers LLC acquired a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,451 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in Essential Utilities by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock worth $549,000 after purchasing an additional 250 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of Essential Utilities by 4.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company’s stock valued at $230,000 after acquiring an additional 289 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Essential Utilities by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company’s stock valued at $2,546,000 after acquiring an additional 300 shares during the last quarter. Finally, Rothschild Investment LLC increased its stake in shares of Essential Utilities by 1.7% in the 4th quarter. Rothschild Investment LLC now owns 19,527 shares of the company’s stock valued at $709,000 after acquiring an additional 317 shares during the last quarter. 74.78% of the stock is owned by institutional investors.

Essential Utilities Price Performance

Shares of WTRG opened at $39.84 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The stock has a 50 day simple moving average of $36.27 and a 200 day simple moving average of $37.83. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The firm has a market capitalization of $10.95 billion, a PE ratio of 19.92, a P/E/G ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results 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. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. Sell-side analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company 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 (DPR) is currently 59.91%.

Analysts Set New Price Targets

A number of brokerages have recently commented on WTRG. Evercore ISI upped their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. UBS Group lowered their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.50.

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.