Capital CS Group LLC Lowers Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Capital CS Group LLC trimmed its position in Essential Utilities, Inc. (NYSE:WTRG) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,671 shares of the company’s stock after selling 1,002 shares during the quarter. Capital CS Group LLC’s holdings in Essential Utilities were worth $226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WTRG. WealthPLAN Partners LLC purchased a new stake in Essential Utilities in the first quarter valued at approximately $25,000. BOKF NA purchased a new stake in Essential Utilities in the first quarter valued at approximately $27,000. Atlantic Private Wealth LLC purchased a new stake in Essential Utilities in the first quarter valued at approximately $28,000. Piscataqua Savings Bank raised its stake in Essential Utilities by 50.0% in the first quarter. Piscataqua Savings Bank now owns 750 shares of the company’s stock valued at $33,000 after purchasing an additional 250 shares in the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in Essential Utilities in the fourth quarter valued at approximately $34,000. 73.01% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 1.2 %

WTRG stock opened at $37.70 on Friday. The company has a market capitalization of $9.97 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 3.66 and a beta of 0.78. Essential Utilities, Inc. has a one year low of $35.44 and a one year high of $49.89. The company’s 50 day moving average price is $39.19 and its two-hundred day moving average price is $40.98. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.39 and a current ratio of 0.53.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $436.70 million for the quarter, compared to the consensus estimate of $469.07 million. Essential Utilities had a net margin of 20.25% and a return on equity of 8.54%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. As a group, analysts predict that Essential Utilities, Inc. will post 1.86 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a dividend of $0.3071 per share. The ex-dividend date was Thursday, August 10th. This is an increase from Essential Utilities’s previous quarterly dividend of $0.29. This represents a $1.23 annualized dividend and a dividend yield of 3.26%. Essential Utilities’s dividend payout ratio (DPR) is 69.89%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.25.

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.