KBC Group NV Purchases 804 Shares of Essential Utilities Inc. (NYSE:WTRG)

KBC Group NV raised its position in shares of Essential Utilities Inc. (NYSE:WTRG) by 3.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 23,059 shares of the company’s stock after acquiring an additional 804 shares during the quarter. KBC Group NV’s holdings in Essential Utilities were worth $912,000 as of its most recent filing with the Securities and Exchange Commission.

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

Essential Utilities Trading Down 0.8%

Shares of WTRG stock opened at $36.82 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.65. Essential Utilities Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a market capitalization 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. The business’s fifty day moving average is $38.50 and its 200 day moving average is $37.68.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Robert W. Baird cut their price target on Essential Utilities from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Wall Street Zen raised Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, April 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Essential Utilities presently 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.