Gotham Asset Management LLC Reduces Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Gotham Asset Management LLC cut its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,920 shares of the company’s stock after selling 16,018 shares during the quarter. Gotham Asset Management LLC’s holdings in Essential Utilities were worth $6,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WTRG. Wealth Enhancement Advisory Services LLC lifted its holdings in Essential Utilities by 28.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,605 shares of the company’s stock worth $2,338,000 after buying an additional 13,518 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Essential Utilities by 219.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 122,581 shares of the company’s stock worth $4,452,000 after buying an additional 84,208 shares during the period. Hennessy Advisors Inc. lifted its holdings in Essential Utilities by 2.8% in the 4th quarter. Hennessy Advisors Inc. now owns 175,500 shares of the company’s stock worth $6,374,000 after buying an additional 4,800 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in Essential Utilities by 0.9% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 201,926 shares of the company’s stock worth $7,334,000 after buying an additional 1,719 shares during the period. Finally, HB Wealth Management LLC lifted its holdings in Essential Utilities by 8.5% in the 4th quarter. HB Wealth Management LLC now owns 10,919 shares of the company’s stock worth $397,000 after buying an additional 856 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Down 4.4%

WTRG stock opened at $37.39 on Wednesday. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a market cap of $10.30 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. The business has a 50 day moving average of $39.59 and a 200 day moving average of $38.01.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.23. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $783.63 million during the quarter, compared to analyst estimates of $713.80 million. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WTRG shares. Evercore ISI increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Wells Fargo & Company increased their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. UBS Group decreased their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. StockNews.com raised Essential Utilities from a “sell” rating to a “hold” rating in a research report on Sunday, April 20th. Finally, Jefferies Financial Group raised 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.