Commonwealth Equity Services LLC Sells 4,837 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Commonwealth Equity Services LLC decreased its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 241,041 shares of the company’s stock after selling 4,837 shares during the quarter. Commonwealth Equity Services LLC owned 0.09% of Essential Utilities worth $8,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WTRG. Nordea Investment Management AB raised its holdings in shares of Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 82,456 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 175,707 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Essential Utilities by 4.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock worth $97,632,000 after buying an additional 100,990 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Essential Utilities by 7.3% in the third 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 acquiring an additional 145,767 shares during the period. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Down 1.4 %

Essential Utilities stock opened at $39.14 on Thursday. 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. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 2.57 and a beta of 0.79. The firm has a 50 day moving average of $36.44 and a 200 day moving average of $37.84.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. As a group, research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.33%. Essential Utilities’s payout ratio is 59.91%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WTRG shares. UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. Finally, Evercore ISI increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. One 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 a consensus target price of $43.50.

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.