Duff & Phelps Investment Management Co. Has $87.55 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

Duff & Phelps Investment Management Co. lessened its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 4.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,410,529 shares of the company’s stock after selling 120,768 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Essential Utilities were worth $87,550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Essential Utilities in the third quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new position in Essential Utilities in the fourth quarter valued at $26,000. IFP Advisors Inc boosted its stake in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after purchasing an additional 473 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Essential Utilities during the third quarter valued at about $42,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Essential Utilities in the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Price Performance

WTRG stock opened at $38.62 on Friday. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year 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. The firm has a market capitalization of $10.62 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.57 and a beta of 0.79. The business’s 50-day moving average is $36.92 and its two-hundred day moving average is $37.82.

Essential Utilities (NYSE:WTRG) last released 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 firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.37%. Essential Utilities’s dividend payout ratio is presently 59.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WTRG shares. Jefferies Financial Group raised 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. 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 research report on Tuesday, January 14th. Evercore ISI upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their price target 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and an average 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.