John G Ullman & Associates Inc. Buys 69,928 Shares of Essential Utilities, Inc. (NYSE:WTRG)

John G Ullman & Associates Inc. grew its stake in Essential Utilities, Inc. (NYSE:WTRG) by 33.0% in the fourth quarter, HoldingsChannel reports. The fund owned 282,050 shares of the company’s stock after acquiring an additional 69,928 shares during the period. Essential Utilities accounts for 1.5% of John G Ullman & Associates Inc.’s holdings, making the stock its 14th largest position. John G Ullman & Associates Inc.’s holdings in Essential Utilities were worth $10,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of WTRG. Brooklyn Investment Group acquired a new position in Essential Utilities during the third quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities during the third quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its holdings in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares during the period. Truvestments Capital LLC acquired a new position in Essential Utilities during the third quarter valued at approximately $42,000. Finally, IFP Advisors Inc grew its holdings 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 purchasing an additional 473 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $37.96 on Friday. The company’s fifty day simple moving average is $35.60 and its 200-day simple moving average is $37.84. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a market cap of $10.42 billion, a PE ratio of 18.98, a P/E/G ratio of 2.57 and a beta of 0.86. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Equities research analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.43%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is currently 59.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WTRG. Robert W. Baird boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Essential Utilities has a consensus rating of “Moderate Buy” and an average target price of $43.33.

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.