US Bancorp DE Sells 760 Shares of Essential Utilities Inc. (NYSE:WTRG)

US Bancorp DE lessened its stake in shares of Essential Utilities Inc. (NYSE:WTRGFree Report) by 5.1% during the first quarter, Holdings Channel.com reports. The fund owned 14,236 shares of the company’s stock after selling 760 shares during the period. US Bancorp DE’s holdings in Essential Utilities were worth $563,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in Essential Utilities by 22.0% in the fourth quarter. Northern Trust Corp now owns 3,331,090 shares of the company’s stock valued at $120,985,000 after acquiring an additional 601,026 shares during the last quarter. Boston Trust Walden Corp increased its stake in Essential Utilities by 16.5% in the first quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company’s stock valued at $97,908,000 after acquiring an additional 349,904 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Essential Utilities by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,671 shares of the company’s stock valued at $85,231,000 after acquiring an additional 192,456 shares during the last quarter. Tandem Investment Advisors Inc. increased its stake in Essential Utilities by 0.9% in the first quarter. Tandem Investment Advisors Inc. now owns 2,045,060 shares of the company’s stock valued at $80,841,000 after acquiring an additional 18,353 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Essential Utilities by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,601,633 shares of the company’s stock valued at $58,170,000 after acquiring an additional 27,641 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

WTRG stock opened at $39.02 on Tuesday. The stock has a 50-day moving average price of $37.55 and a 200-day moving average price of $38.12. Essential Utilities Inc. has a 1-year low of $33.18 and a 1-year high of $41.65. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13. The firm has a market cap of $10.94 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 3.56 and a beta of 0.78.

Essential Utilities (NYSE:WTRGGet Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.09. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%. The business had revenue of $514.91 million during the quarter, compared to analyst estimates of $462.70 million. During the same period in the previous year, the company posted $0.28 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts expect that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a $0.3426 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.33. Essential Utilities’s dividend payout ratio is presently 55.79%.

Analyst Ratings Changes

A number of research firms have weighed in on WTRG. Wall Street Zen raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Robert W. Baird boosted their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.67.

Get Our Latest Stock Analysis on WTRG

Essential Utilities Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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