Sterling Investment Advisors Ltd. Increases Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Sterling Investment Advisors Ltd. lifted its position in Essential Utilities, Inc. (NYSE:WTRG) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,414 shares of the company’s stock after purchasing an additional 1,955 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Essential Utilities were worth $1,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WTRG. International Assets Investment Management LLC purchased a new stake in shares of Essential Utilities during the 3rd quarter worth approximately $3,785,000. Assenagon Asset Management S.A. raised its holdings in shares of Essential Utilities by 286.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 38,373 shares of the company’s stock valued at $1,480,000 after buying an additional 28,444 shares during the period. Ballentine Partners LLC acquired a new position in shares of Essential Utilities during the 3rd quarter worth about $236,000. Mediolanum International Funds Ltd boosted its position in shares of Essential Utilities by 62.6% during the 3rd quarter. Mediolanum International Funds Ltd now owns 9,414 shares of the company’s stock worth $361,000 after acquiring an additional 3,624 shares in the last quarter. Finally, Forsta AP Fonden boosted its position in shares of Essential Utilities by 42.2% during the 3rd quarter. Forsta AP Fonden now owns 71,100 shares of the company’s stock worth $2,742,000 after acquiring an additional 21,100 shares in the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on WTRG shares. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. UBS Group lowered their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded 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. Finally, Robert W. Baird increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $37.04 on Tuesday. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The firm has a fifty day simple moving average of $35.51 and a 200 day simple moving average of $37.87. The company has a market capitalization of $10.17 billion, a PE ratio of 18.52, a P/E/G ratio of 2.57 and a beta of 0.87. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

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.