Clean Yield Group Lowers Position in Essential Utilities, Inc. (NYSE:WTRG)

Clean Yield Group decreased its stake in Essential Utilities, Inc. (NYSE:WTRG) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,729 shares of the company’s stock after selling 541 shares during the period. Clean Yield Group’s holdings in Essential Utilities were worth $503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blair William & Co. IL grew its position in Essential Utilities by 1.2% during the fourth quarter. Blair William & Co. IL now owns 24,652 shares of the company’s stock worth $895,000 after buying an additional 285 shares during the period. Nations Financial Group Inc. IA ADV grew its position in Essential Utilities by 4.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company’s stock worth $230,000 after buying an additional 289 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Essential Utilities by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company’s stock valued at $2,546,000 after purchasing an additional 300 shares in the last quarter. Rothschild Investment LLC lifted its holdings in shares of Essential Utilities by 1.7% in the fourth quarter. Rothschild Investment LLC now owns 19,527 shares of the company’s stock valued at $709,000 after purchasing an additional 317 shares in the last quarter. Finally, Apella Capital LLC lifted its holdings in shares of Essential Utilities by 4.4% in the first quarter. Apella Capital LLC now owns 7,914 shares of the company’s stock valued at $299,000 after purchasing an additional 334 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

Shares of WTRG opened at $37.65 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.57 and a beta of 0.81. The company’s 50 day simple moving average is $39.32 and its 200 day simple moving average is $37.93. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78.

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 net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $783.63 million during the quarter, compared to analyst estimates of $713.80 million. During the same quarter in the prior year, the business posted $0.97 earnings per share. Essential Utilities’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, sell-side analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WTRG. Robert W. Baird reduced 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 upped their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Evercore ISI upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, Wall Street Zen raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, April 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.50.

About Essential Utilities

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.