Private Advisor Group LLC Has $3.11 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

Private Advisor Group LLC cut its position in Essential Utilities, Inc. (NYSE:WTRG) by 17.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,596 shares of the company’s stock after selling 17,515 shares during the quarter. Private Advisor Group LLC’s holdings in Essential Utilities were worth $3,109,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WTRG. International Assets Investment Management LLC bought a new stake in shares of Essential Utilities in the third quarter valued at about $3,785,000. Assenagon Asset Management S.A. boosted its holdings in Essential Utilities by 286.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 38,373 shares of the company’s stock valued at $1,480,000 after purchasing an additional 28,444 shares during the period. Ballentine Partners LLC acquired a new position in shares of Essential Utilities during the 3rd quarter worth approximately $236,000. Mediolanum International Funds Ltd increased its holdings in shares of Essential Utilities by 62.6% during the third quarter. Mediolanum International Funds Ltd now owns 9,414 shares of the company’s stock worth $361,000 after purchasing an additional 3,624 shares during the period. Finally, Forsta AP Fonden increased its holdings in shares of Essential Utilities by 42.2% during the third quarter. Forsta AP Fonden now owns 71,100 shares of the company’s stock worth $2,742,000 after purchasing an additional 21,100 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Trading Up 1.3 %

Shares of WTRG opened at $37.04 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.57 and a beta of 0.86. The business’s fifty day moving average is $35.51 and its 200-day moving average is $37.87.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is 65.00%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WTRG shares. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. Robert W. Baird increased their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. Finally, UBS Group reduced 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.