Thrivent Financial for Lutherans Reduces Stock Holdings in Essential Utilities Inc. $WTRG

Thrivent Financial for Lutherans reduced its holdings in Essential Utilities Inc. (NYSE:WTRG) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,241 shares of the company’s stock after selling 36,781 shares during the period. Thrivent Financial for Lutherans’ holdings in Essential Utilities were worth $2,464,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WTRG. GoalVest Advisory LLC purchased a new stake in shares of Essential Utilities in the 4th quarter valued at $25,000. Atlantic Union Bankshares Corp boosted its holdings in Essential Utilities by 1,163.8% during the third quarter. Atlantic Union Bankshares Corp now owns 733 shares of the company’s stock worth $29,000 after buying an additional 675 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Essential Utilities by 31,466.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 947 shares of the company’s stock worth $36,000 after buying an additional 944 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Essential Utilities by 43.6% during the third quarter. Bessemer Group Inc. now owns 1,114 shares of the company’s stock worth $45,000 after buying an additional 338 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in Essential Utilities during the third quarter worth $51,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $37.47 on Tuesday. The company’s fifty day moving average price is $39.27 and its 200 day moving average price is $39.07. Essential Utilities Inc. has a 1 year low of $36.32 and a 1 year high of $42.37. The company has a market capitalization of $10.63 billion, a PE ratio of 19.02 and a beta of 0.67. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.84 and a current ratio of 0.95.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). The company had revenue of $861.76 million for the quarter, compared to analyst estimates of $782.90 million. Essential Utilities had a return on equity of 8.34% and a net margin of 21.82%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, research analysts predict that Essential Utilities Inc. will post 2.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on WTRG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Essential Utilities in a report on Friday. Argus raised shares of Essential Utilities to a “strong-buy” rating in a report on Monday, March 23rd. Finally, UBS Group set a $41.00 price target on shares of Essential Utilities in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Essential Utilities currently has a consensus rating of “Hold” and an average target price of $42.40.

Essential Utilities Company Profile

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.