Wealthcare Advisory Partners LLC Sells 3,500 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Wealthcare Advisory Partners LLC lowered its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,547 shares of the company’s stock after selling 3,500 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Essential Utilities were worth $842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LPL Financial LLC increased its holdings in shares of Essential Utilities by 14.2% in the 3rd quarter. LPL Financial LLC now owns 235,841 shares of the company’s stock worth $8,096,000 after purchasing an additional 29,372 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Essential Utilities by 94.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 81,799 shares of the company’s stock worth $2,808,000 after acquiring an additional 39,643 shares during the last quarter. Mariner LLC lifted its stake in Essential Utilities by 9.9% in the 3rd quarter. Mariner LLC now owns 34,360 shares of the company’s stock worth $1,180,000 after purchasing an additional 3,104 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Essential Utilities in the fourth quarter worth about $3,583,000. Finally, Vanguard Group Inc. boosted its position in shares of Essential Utilities by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 27,168,585 shares of the company’s stock valued at $932,698,000 after acquiring an additional 99,560 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Insider Buying and Selling

In other Essential Utilities news, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the sale, the chief accounting officer now directly owns 13,358 shares in the company, valued at approximately $488,368.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of Essential Utilities stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.21, for a total value of $207,073.65. Following the transaction, the chief accounting officer now owns 57,756 shares in the company, valued at $2,149,100.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total transaction of $73,960.88. Following the completion of the sale, the chief accounting officer now owns 13,358 shares of the company’s stock, valued at approximately $488,368.48. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WTRG. Evercore ISI cut their target price on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Robert W. Baird cut their price objective on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities Stock Down 0.1 %

Shares of NYSE:WTRG traded down $0.05 on Wednesday, hitting $38.62. 24,403 shares of the company’s stock were exchanged, compared to its average volume of 1,775,486. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $43.74. The company has a market capitalization of $10.56 billion, a PE ratio of 18.33, a P/E/G ratio of 3.29 and a beta of 0.80. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.48 and a current ratio of 0.62. The firm’s 50-day moving average is $36.02 and its 200 day moving average is $35.97.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The firm had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. Essential Utilities’s revenue was down 32.0% compared to the same quarter last year. Sell-side analysts predict that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.3071 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, May 9th. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is 58.29%.

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.