Folger Nolan Fleming Douglas Capital Management Inc. Buys 883 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 0.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,207 shares of the company’s stock after acquiring an additional 883 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc. owned approximately 0.07% of Essential Utilities worth $7,722,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Friedenthal Financial acquired a new position in Essential Utilities during the 3rd quarter worth about $25,000. Voisard Asset Management Group Inc. acquired a new position in shares of Essential Utilities during the second quarter worth approximately $37,000. Bfsg LLC grew its stake in shares of Essential Utilities by 157.0% during the third quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after purchasing an additional 727 shares during the last quarter. Mascoma Wealth Management LLC bought a new stake in shares of Essential Utilities during the second quarter valued at approximately $66,000. Finally, Cultivar Capital Inc. acquired a new stake in shares of Essential Utilities in the second quarter valued at approximately $70,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 0.6 %

Shares of Essential Utilities stock opened at $38.74 on Thursday. The stock has a market cap of $10.60 billion, a P/E ratio of 18.90, a P/E/G ratio of 3.37 and a beta of 0.84. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. Essential Utilities, Inc. has a 12-month low of $33.00 and a 12-month high of $41.78. The business’s 50 day moving average is $39.02 and its 200-day moving average is $38.52.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS. Equities research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WTRG has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America reissued a “buy” rating and set a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company raised their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group initiated coverage on shares of Essential Utilities in a research note on Monday, October 7th. They set a “buy” rating and a $44.00 price target for the company. Finally, Evercore ISI raised their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.80.

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.