Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC grew its position in Essential Utilities, Inc. (NYSE:WTRG) by 11.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,243 shares of the company’s stock after purchasing an additional 1,020 shares during the period. Gitterman Wealth Management LLC’s holdings in Essential Utilities were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WTRG. Nordea Investment Management AB boosted its position in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after buying an additional 972,803 shares during the period. Geode Capital Management LLC raised its stake in Essential Utilities by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock worth $165,701,000 after acquiring an additional 82,456 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Essential Utilities by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,731,011 shares of the company’s stock worth $99,190,000 after acquiring an additional 175,707 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in Essential Utilities by 4.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after purchasing an additional 100,990 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Essential Utilities by 7.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock valued at $83,088,000 after purchasing an additional 145,767 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Up 1.0 %

WTRG stock opened at $39.54 on Friday. The company’s 50 day simple moving average is $36.18 and its 200-day simple moving average is $37.83. The firm has a market capitalization of $10.87 billion, a PE ratio of 19.77, a P/E/G ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. 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 (NYSE:WTRG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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 analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is 59.91%.

Analysts Set New Price Targets

Several analysts have recently weighed in on WTRG shares. Evercore ISI lifted their target price 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. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. Wells Fargo & Company boosted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Finally, UBS Group decreased their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.50.

Essential Utilities Company 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.