Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,601 shares of the company’s stock after selling 5,300 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Essential Utilities were worth $8,702,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. VSM Wealth Advisory LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth about $26,000. IFP Advisors Inc raised its holdings in Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after buying an additional 473 shares during the period. New Age Alpha Advisors LLC acquired a new position in Essential Utilities during the fourth quarter valued at approximately $45,000. Stonebridge Financial Group LLC purchased a new stake in Essential Utilities during the fourth quarter worth approximately $60,000. Finally, Crews Bank & Trust acquired a new stake in shares of Essential Utilities in the fourth quarter worth $90,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts 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 upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. 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. Finally, Wells Fargo & Company boosted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.50.

Essential Utilities Stock Up 0.7 %

WTRG stock opened at $39.55 on Tuesday. 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 50 day simple moving average of $37.09 and a 200-day simple moving average of $37.81. The company has a market capitalization of $10.90 billion, a P/E ratio of 19.77, a PEG ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share 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. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.29%. Essential Utilities’s dividend payout ratio (DPR) is 59.91%.

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.