Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB grew its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 55,507 shares of the company’s stock after purchasing an additional 698 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Essential Utilities were worth $2,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CIBC Asset Management Inc raised its stake in Essential Utilities by 1.8% during the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock worth $549,000 after acquiring an additional 250 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 294 shares during the last quarter. Tompkins Financial Corp lifted its holdings in shares of Essential Utilities by 21.7% in the 3rd quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Essential Utilities by 7.2% in the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after purchasing an additional 332 shares during the period. Finally, V Square Quantitative Management LLC boosted its position in shares of Essential Utilities by 10.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company’s stock valued at $134,000 after purchasing an additional 333 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Shares of WTRG opened at $35.15 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average is $36.25 and its two-hundred day moving average is $38.26. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The firm has a market capitalization of $9.65 billion, a PE ratio of 17.58, a P/E/G ratio of 2.53 and a beta of 0.86.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.70%. The ex-dividend date is Monday, February 10th. Essential Utilities’s payout ratio is 65.00%.

Analysts Set New Price Targets

WTRG has been the topic of several research analyst reports. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Robert W. Baird upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. Finally, UBS Group dropped their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.