TFG Advisers LLC Sells 1,066 Shares of Essential Utilities, Inc. (NYSE:WTRG)

TFG Advisers LLC trimmed its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 29,917 shares of the company’s stock after selling 1,066 shares during the period. TFG Advisers LLC’s holdings in Essential Utilities were worth $1,087,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA grew its holdings in Essential Utilities by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock worth $2,001,000 after acquiring an additional 803 shares during the last quarter. Synergy Asset Management LLC grew its stake in shares of Essential Utilities by 92.8% in the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock worth $5,529,000 after purchasing an additional 71,222 shares during the last quarter. Empower Advisory Group LLC increased its holdings in Essential Utilities by 5.6% in the third quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock valued at $61,152,000 after purchasing an additional 84,596 shares during the period. Nordea Investment Management AB raised its position in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Finally, Brighton Jones LLC acquired a new position in Essential Utilities during the 4th quarter worth about $638,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

NYSE:WTRG opened at $35.15 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The company has a fifty day moving average of $36.35 and a 200-day moving average of $38.31. The firm has a market capitalization of $9.65 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.53 and a beta of 0.86.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.3255 per share. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.70%. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Ratings Changes

WTRG has been the subject of several recent research reports. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. Robert W. Baird raised their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company lowered shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. Finally, UBS Group lowered their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.