Securian Asset Management Inc. Has $694,000 Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Securian Asset Management Inc. trimmed its position in Essential Utilities, Inc. (NYSE:WTRG) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 19,099 shares of the company’s stock after selling 479 shares during the period. Securian Asset Management Inc.’s holdings in Essential Utilities were worth $694,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group bought a new stake in Essential Utilities during the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new stake in Essential Utilities during the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. increased its stake 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 purchasing an additional 294 shares in the last quarter. Truvestments Capital LLC bought a new stake in Essential Utilities during the 3rd quarter worth approximately $42,000. Finally, IFP Advisors Inc increased its stake in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after purchasing an additional 473 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Price Performance

NYSE:WTRG opened at $39.54 on Monday. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The firm has a fifty day simple moving average of $36.18 and a 200 day simple moving average of $37.82. The stock 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 (NYSE:WTRG) last released its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. On average, research analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Evercore ISI raised their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note 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 target for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.