Global Retirement Partners LLC Has $105,000 Stake in Essential Utilities, Inc. (NYSE:WTRG)

Global Retirement Partners LLC lessened its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 26.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,887 shares of the company’s stock after selling 1,032 shares during the quarter. Global Retirement Partners LLC’s holdings in Essential Utilities were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Essential Utilities during the third quarter worth approximately $3,785,000. Assenagon Asset Management S.A. lifted its position in shares of Essential Utilities by 286.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 38,373 shares of the company’s stock valued at $1,480,000 after acquiring an additional 28,444 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Essential Utilities by 11.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,087 shares of the company’s stock worth $1,816,000 after purchasing an additional 4,666 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Essential Utilities by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 29,256 shares of the company’s stock worth $1,128,000 after purchasing an additional 1,985 shares during the period. Finally, First Trust Direct Indexing L.P. raised its stake in Essential Utilities by 4.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,024 shares of the company’s stock valued at $309,000 after purchasing an additional 337 shares in the last quarter. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $37.65 on Friday. The firm has a 50 day moving average of $35.57 and a 200-day moving average of $37.86. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. On average, equities analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is 65.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird upped their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, 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 report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.33.

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.