Essential Utilities Inc. (NYSE:WTRG) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its stake in Essential Utilities Inc. (NYSE:WTRG) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,449 shares of the company’s stock after selling 2,305 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Essential Utilities were worth $2,508,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. VSM Wealth Advisory LLC acquired a new position in Essential Utilities in the fourth quarter valued at approximately $26,000. American National Bank & Trust acquired a new position in Essential Utilities in the first quarter valued at approximately $35,000. CX Institutional acquired a new position in Essential Utilities in the first quarter valued at approximately $42,000. IFP Advisors Inc lifted its holdings in Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after acquiring an additional 473 shares during the period. Finally, Orion Capital Management LLC acquired a new position in Essential Utilities in the fourth quarter valued at approximately $41,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Down 0.9%

Shares of WTRG opened at $37.05 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.65. Essential Utilities Inc. has a one year low of $33.18 and a one year high of $41.78. The stock has a market capitalization of $10.39 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 3.44 and a beta of 0.81. The stock has a 50 day moving average price of $39.20 and a 200 day moving average price of $37.83.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.80 by $0.23. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The firm had revenue of $783.63 million during the quarter, compared to analysts’ expectations of $713.80 million. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. Equities research analysts forecast that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on WTRG. Wells Fargo & Company boosted their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Evercore ISI boosted their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Wall Street Zen upgraded Essential Utilities from a “sell” rating to a “hold” rating in a research report on Sunday, April 20th. Finally, Robert W. Baird cut their price objective on Essential Utilities from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.50.

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.