Benedict Financial Advisors Inc. Purchases 902 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Benedict Financial Advisors Inc. increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 77,700 shares of the company’s stock after acquiring an additional 902 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Essential Utilities were worth $2,822,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Friedenthal Financial bought a new position in shares of Essential Utilities during the third quarter valued at $25,000. Brooklyn Investment Group acquired a new stake in Essential Utilities in the third quarter valued at $26,000. Darwin Wealth Management LLC bought a new position in Essential Utilities during the 3rd quarter worth $28,000. First Horizon Advisors Inc. lifted its holdings in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Essential Utilities in the 3rd quarter valued at about $42,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $35.15 on Friday. The business has a 50-day simple moving average of $36.25 and a 200 day simple moving average of $38.28. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.53 and a beta of 0.86. 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, Inc. has a one year low of $33.18 and a one year high of $41.78.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a dividend of $0.3255 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.70%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analyst Weigh In

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

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.