Essential Utilities, Inc. (NYSE:WTRG) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden increased its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 42.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,100 shares of the company’s stock after purchasing an additional 21,100 shares during the quarter. Forsta AP Fonden’s holdings in Essential Utilities were worth $2,742,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Friedenthal Financial acquired a new position in shares of Essential Utilities during the 3rd quarter worth approximately $25,000. Tradewinds Capital Management LLC increased its holdings in Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after acquiring an additional 626 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new position in Essential Utilities during the second quarter worth $37,000. Bfsg LLC lifted its holdings in Essential Utilities by 157.0% during the third quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after purchasing an additional 727 shares in the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in shares of Essential Utilities in the second quarter valued at about $66,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on WTRG. Wells Fargo & Company upped their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Robert W. Baird raised their target price on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Evercore ISI boosted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America restated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th. Finally, Jefferies Financial Group started coverage on shares of Essential Utilities in a report on Monday, October 7th. They set a “buy” rating and a $44.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $38.51 on Wednesday. The business’s 50 day moving average price is $39.03 and its 200 day moving average price is $38.51. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 3.37 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. Essential Utilities, Inc. has a one year low of $32.95 and a one year high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The company had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.3255 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.38%. Essential Utilities’s dividend payout ratio is 63.41%.

About Essential Utilities

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.