Crossmark Global Holdings Inc. Lowers Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Crossmark Global Holdings Inc. cut its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,844 shares of the company’s stock after selling 622 shares during the period. Crossmark Global Holdings Inc.’s holdings in Essential Utilities were worth $648,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in Essential Utilities by 4,309.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock worth $48,424,000 after purchasing an additional 1,227,010 shares during the period. Boston Trust Walden Corp boosted its position in Essential Utilities by 117.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock worth $75,701,000 after purchasing an additional 1,059,320 shares during the period. Nordea Investment Management AB boosted its position in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the period. Point72 Asset Management L.P. purchased a new stake in Essential Utilities during the 3rd quarter worth $30,842,000. Finally, JPMorgan Chase & Co. boosted its position in Essential Utilities by 33.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after purchasing an additional 237,096 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WTRG shares. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and cut their price objective for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, UBS Group cut their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $33.49 on Friday. The firm has a market cap of $9.20 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.40 and a beta of 0.86. The firm’s 50-day simple moving average is $37.09 and its 200-day simple moving average is $38.58. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. Equities analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a dividend of $0.3255 per share. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a yield of 3.89%. Essential Utilities’s dividend payout ratio (DPR) is 65.00%.

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.