Advisors Asset Management Inc. Has $581,000 Stake in Essential Utilities, Inc. (NYSE:WTRG)

Advisors Asset Management Inc. increased its stake in shares of Essential Utilities, Inc. (NYSE:WTRGGet Rating) by 60.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,670 shares of the company’s stock after acquiring an additional 4,767 shares during the period. Advisors Asset Management Inc.’s holdings in Essential Utilities were worth $581,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Herold Advisors Inc. acquired a new stake in Essential Utilities in the 1st quarter valued at approximately $41,000. Daiwa Securities Group Inc. grew its holdings in Essential Utilities by 55.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 30,563 shares of the company’s stock valued at $1,563,000 after buying an additional 10,900 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Essential Utilities by 2.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 123,705 shares of the company’s stock valued at $6,325,000 after buying an additional 3,513 shares during the last quarter. Banque Pictet & Cie SA grew its holdings in Essential Utilities by 1,005.6% in the 2nd quarter. Banque Pictet & Cie SA now owns 68,879 shares of the company’s stock valued at $3,158,000 after buying an additional 62,649 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in Essential Utilities in the 1st quarter valued at approximately $2,140,000. Institutional investors and hedge funds own 69.79% of the company’s stock.

Essential Utilities Price Performance

Essential Utilities stock opened at $47.12 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.64 and a quick ratio of 0.37. The company has a market capitalization of $12.36 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77. Essential Utilities, Inc. has a one year low of $38.50 and a one year high of $53.93. The business has a 50 day simple moving average of $43.71 and a 200 day simple moving average of $46.13.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a $0.287 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.15 annualized dividend and a yield of 2.44%. Essential Utilities’s payout ratio is 64.97%.

Wall Street Analysts Forecast Growth

WTRG has been the subject of a number of research reports. HSBC upgraded Essential Utilities from a “hold” rating to a “buy” rating and raised their price objective for the stock from $53.00 to $57.00 in a research report on Thursday, August 18th. Robert W. Baird raised their price objective on Essential Utilities from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Bank of America downgraded Essential Utilities from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research report on Friday, September 9th. StockNews.com downgraded Essential Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Evercore ISI reduced their price objective on Essential Utilities to $44.00 in a research report on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.83.

About Essential Utilities

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Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party.

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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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