Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Code Waechter LLC

Code Waechter LLC lowered its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,089 shares of the company’s stock after selling 879 shares during the quarter. Code Waechter LLC’s holdings in Essential Utilities were worth $366,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in Essential Utilities by 1.8% in the third quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock valued at $549,000 after purchasing an additional 250 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the last quarter. Tompkins Financial Corp grew its holdings in Essential Utilities by 21.7% during the third quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock worth $65,000 after acquiring an additional 300 shares during the period. GAMMA Investing LLC raised its position in Essential Utilities by 7.2% during the fourth quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after acquiring an additional 332 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in Essential Utilities by 10.6% in the third quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company’s stock valued at $134,000 after acquiring an additional 333 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Down 1.1 %

WTRG stock opened at $33.72 on Tuesday. The business’s 50-day moving average is $37.97 and its 200 day moving average is $38.78. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 3.06 and a beta of 0.86. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Bank of America reissued a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.20.

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.