Bessemer Group Inc. Has $28,000 Stake in Essential Utilities Inc. (NYSE:WTRG)

Bessemer Group Inc. trimmed its stake in shares of Essential Utilities Inc. (NYSE:WTRG) by 54.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 707 shares of the company’s stock after selling 858 shares during the period. Bessemer Group Inc.’s holdings in Essential Utilities were worth $28,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in Essential Utilities in the fourth quarter valued at approximately $26,000. American National Bank & Trust acquired a new position in Essential Utilities in the first quarter valued at approximately $35,000. IFP Advisors Inc lifted its holdings in Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after buying an additional 473 shares during the period. Orion Capital Management LLC acquired a new position in Essential Utilities in the fourth quarter valued at approximately $41,000. Finally, CX Institutional acquired a new position in Essential Utilities in the first quarter valued at approximately $42,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Trading Down 0.8%

WTRG opened at $36.82 on Friday. The firm’s fifty day moving average is $38.50 and its two-hundred day moving average is $37.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a market cap of $10.32 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. Essential Utilities Inc. has a twelve month low of $33.18 and a twelve month high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.23. The company had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. Essential Utilities had a net margin of 27.17% and a return on equity of 9.81%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. Equities research analysts anticipate that Essential Utilities Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WTRG. Robert W. Baird cut their price objective on shares of Essential Utilities from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, April 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Essential Utilities 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.