Essential Utilities, Inc. (NYSE:WTRG) Stake Lessened by Huntington National Bank

Huntington National Bank trimmed its holdings in Essential Utilities, Inc. (NYSE:WTRGFree Report) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,398 shares of the company’s stock after selling 501 shares during the quarter. Huntington National Bank’s holdings in Essential Utilities were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Essential Utilities by 2.0% in the 1st quarter. BlackRock Inc. now owns 30,129,227 shares of the company’s stock valued at $1,315,141,000 after acquiring an additional 576,448 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Essential Utilities by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 24,683,039 shares of the company’s stock valued at $1,262,044,000 after acquiring an additional 229,596 shares during the last quarter. State Street Corp lifted its holdings in Essential Utilities by 2.5% in the 2nd quarter. State Street Corp now owns 14,243,930 shares of the company’s stock valued at $568,475,000 after acquiring an additional 348,953 shares during the last quarter. Norges Bank acquired a new stake in Essential Utilities in the 4th quarter valued at about $206,493,000. Finally, Geode Capital Management LLC lifted its holdings in Essential Utilities by 6.3% in the 2nd quarter. Geode Capital Management LLC now owns 3,599,518 shares of the company’s stock valued at $143,417,000 after acquiring an additional 213,245 shares during the last quarter. 73.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Edward Jones upgraded Essential Utilities from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. StockNews.com downgraded Essential Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.25.

Check Out Our Latest Research Report on Essential Utilities

Essential Utilities Trading Down 0.4 %

Shares of WTRG stock opened at $35.30 on Friday. The business’s 50 day moving average is $36.84 and its two-hundred day moving average is $36.38. The company has a market cap of $9.64 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 3.09 and a beta of 0.83. The company has a quick ratio of 0.31, a current ratio of 0.46 and a debt-to-equity ratio of 1.09. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $46.37.

Essential Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be paid a $0.307 dividend. The ex-dividend date is Thursday, February 8th. This represents a $1.23 annualized dividend and a dividend yield of 3.48%. Essential Utilities’s payout ratio is 68.33%.

Essential Utilities Company Profile

(Free Report)

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.

See Also

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

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