Mirae Asset Global Investments Co. Ltd. Sells 446 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,794 shares of the company’s stock after selling 446 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Essential Utilities were worth $210,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WTRG. CWM LLC lifted its position in Essential Utilities by 13.2% during the 3rd quarter. CWM LLC now owns 11,995 shares of the company’s stock valued at $463,000 after purchasing an additional 1,397 shares during the period. Inspire Investing LLC bought a new stake in shares of Essential Utilities during the third quarter worth approximately $293,000. Swedbank AB lifted its holdings in Essential Utilities by 3.0% in the third quarter. Swedbank AB now owns 282,370 shares of the company’s stock valued at $10,891,000 after buying an additional 8,148 shares during the period. Bfsg LLC boosted its stake in Essential Utilities by 157.0% in the third quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after acquiring an additional 727 shares during the last quarter. Finally, Secure Asset Management LLC grew its holdings in Essential Utilities by 5.6% during the 3rd quarter. Secure Asset Management LLC now owns 40,412 shares of the company’s stock worth $1,559,000 after acquiring an additional 2,157 shares during the period. Institutional investors own 74.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WTRG shares. UBS Group cut their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Robert W. Baird raised their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities Price Performance

Shares of WTRG stock opened at $35.84 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The firm has a fifty day moving average of $35.99 and a 200-day moving average of $38.15. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86.

Essential Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.63%. Essential Utilities’s payout ratio 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.