Signaturefd LLC Sells 311 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Signaturefd LLC decreased its stake in Essential Utilities, Inc. (NYSE:WTRG) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,813 shares of the company’s stock after selling 311 shares during the quarter. Signaturefd LLC’s holdings in Essential Utilities were worth $320,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Natixis Advisors LLC grew its holdings in Essential Utilities by 6.0% during the 3rd quarter. Natixis Advisors LLC now owns 66,382 shares of the company’s stock valued at $2,560,000 after purchasing an additional 3,761 shares during the last quarter. Quest Partners LLC bought a new position in shares of Essential Utilities during the third quarter valued at approximately $630,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Essential Utilities in the third quarter worth approximately $219,000. Commerce Bank lifted its stake in shares of Essential Utilities by 13.3% during the 3rd quarter. Commerce Bank now owns 6,865 shares of the company’s stock worth $265,000 after acquiring an additional 805 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted 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 valued at $30,000 after acquiring an additional 294 shares during the period. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Down 1.2 %

NYSE:WTRG opened at $38.39 on Friday. 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 1-year low of $33.18 and a 1-year high of $41.78. The company has a 50-day moving average of $36.61 and a 200 day moving average of $37.84. The firm has a market cap of $10.55 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.39%. Essential Utilities’s dividend payout ratio is presently 59.91%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group reduced their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Evercore ISI upped their target price 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. Finally, 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.50.

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.