Private Advisor Group LLC Decreases Position in Essential Utilities, Inc. (NYSE:WTRG)

Private Advisor Group LLC reduced its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,994 shares of the company’s stock after selling 3,606 shares during the period. Private Advisor Group LLC’s holdings in Essential Utilities were worth $4,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Essential Utilities during the 4th quarter valued at approximately $52,964,000. Nuance Investments LLC acquired a new position in Essential Utilities during the third quarter valued at $21,570,000. Duff & Phelps Investment Management Co. boosted its holdings in Essential Utilities by 11.4% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 3,069,377 shares of the company’s stock valued at $114,641,000 after purchasing an additional 313,277 shares during the last quarter. Beck Bode LLC acquired a new stake in Essential Utilities during the 3rd quarter worth about $8,028,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Essential Utilities by 2,242.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 238,027 shares of the company’s stock valued at $8,171,000 after buying an additional 227,864 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on WTRG shares. Evercore ISI dropped their price objective on shares of 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 target on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Stock Up 1.0 %

Shares of WTRG opened at $38.78 on Friday. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $43.26. 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 stock has a 50 day moving average price of $36.09 and a 200 day moving average price of $35.99. The stock has a market capitalization of $10.61 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 3.29 and a beta of 0.80.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.50 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 business had revenue of $479.40 million for the quarter, compared to analyst estimates of $708.50 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was down 32.0% compared to the same quarter last year. Equities research analysts forecast that Essential Utilities, Inc. will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.3071 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.23 annualized dividend and a dividend yield of 3.17%. Essential Utilities’s dividend 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.