Greenleaf Trust Takes $235,000 Position in Essential Utilities, Inc. (NYSE:WTRG)

Greenleaf Trust purchased a new stake in Essential Utilities, Inc. (NYSE:WTRG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,293 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its stake in Essential Utilities by 604.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock valued at $27,000 after buying an additional 610 shares during the last quarter. Valley National Advisers Inc. grew its stake in Essential Utilities by 4,210.0% in the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after buying an additional 842 shares during the last quarter. Resources Management Corp CT ADV grew its position in shares of Essential Utilities by 250.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 750 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Essential Utilities during the 3rd quarter worth approximately $39,000. Finally, Larson Financial Group LLC acquired a new position in shares of Essential Utilities during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI decreased their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Stock Performance

Shares of NYSE:WTRG opened at $36.54 on Thursday. The company’s 50 day moving average price is $35.74 and its two-hundred day moving average price is $35.72. Essential Utilities, Inc. has a 12-month low of $32.07 and a 12-month high of $44.05. The firm has a market cap of $9.99 billion, a PE ratio of 19.65, a PEG ratio of 3.15 and a beta of 0.82. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Essential Utilities had a net margin of 24.26% and a return on equity of 8.68%. The company had revenue of $479.40 million during the quarter, compared to the consensus estimate of $708.50 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was down 32.0% on a year-over-year basis. Equities research analysts predict that Essential Utilities, Inc. will post 2 earnings per share for the current year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a dividend of $0.3071 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio is 66.13%.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.

Essential Utilities Company 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.