Essential Utilities, Inc. (NYSE:WTRG) Position Lessened by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 44.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,320 shares of the company’s stock after selling 5,966 shares during the period. Cresset Asset Management LLC’s holdings in Essential Utilities were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WTRG. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities during the 4th quarter valued at about $26,000. IFP Advisors Inc raised its position in Essential Utilities by 75.0% during 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 in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Essential Utilities in the fourth quarter valued at approximately $45,000. Bessemer Group Inc. lifted its stake in Essential Utilities by 98.9% in the fourth quarter. Bessemer Group Inc. now owns 1,565 shares of the company’s stock valued at $56,000 after acquiring an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Essential Utilities in the fourth quarter worth approximately $60,000. Hedge funds and other 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. Robert W. Baird cut their price target on shares of Essential Utilities from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company raised their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. StockNews.com raised Essential Utilities from a “sell” rating to a “hold” rating in a research report on Sunday, April 20th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. Finally, Evercore ISI raised their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Stock Up 1.9%

Essential Utilities stock opened at $38.88 on Friday. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.57 and a beta of 0.85. The firm has a fifty day moving average price of $39.47 and a two-hundred day moving average price of $37.99. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.23. The firm had revenue of $783.63 million during the quarter, compared to the consensus estimate of $713.80 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 EPS. As a group, analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.35%. Essential Utilities’s payout ratio is 58.30%.

Essential Utilities 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.