Corient Private Wealth LLC Sells 2,507 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Corient Private Wealth LLC lessened its stake in Essential Utilities, Inc. (NYSE:WTRG) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,196 shares of the company’s stock after selling 2,507 shares during the period. Corient Private Wealth LLC’s holdings in Essential Utilities were worth $1,460,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after acquiring an additional 972,803 shares during the last quarter. Geode Capital Management LLC increased its holdings in Essential Utilities by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock valued at $165,701,000 after purchasing an additional 82,456 shares during the period. Bank of New York Mellon Corp raised its position in Essential Utilities by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,731,011 shares of the company’s stock valued at $99,190,000 after purchasing an additional 175,707 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Essential Utilities by 4.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after purchasing an additional 100,990 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Essential Utilities by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock worth $83,088,000 after buying an additional 145,767 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $37.94 on Wednesday. The company’s fifty day moving average price is $36.77 and its 200-day moving average price is $37.81. The stock has a market cap of $10.43 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 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 expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors 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 3.43%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

Wall Street Analyst Weigh In

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

Essential Utilities Company 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.