672 Shares in Essential Utilities, Inc. (NYSE:WTRG) Acquired by Brooklyn Investment Group

Brooklyn Investment Group bought a new stake in Essential Utilities, Inc. (NYSE:WTRG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 672 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds have also recently added to or reduced their stakes in WTRG. Friedenthal Financial acquired a new stake in Essential Utilities in the third quarter worth approximately $25,000. Darwin Wealth Management LLC bought a new stake in Essential Utilities in the third quarter worth about $28,000. First Horizon Advisors Inc. raised its position in 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 acquiring an additional 294 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new stake in Essential Utilities in the 2nd quarter valued at about $37,000. Finally, Truvestments Capital LLC bought a new position in shares of Essential Utilities during the 3rd quarter valued at about $42,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $40.03 on Friday. The stock has a market cap of $10.99 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 3.19 and a beta of 0.84. Essential Utilities, Inc. has a 12 month low of $33.57 and a 12 month high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $39.18 and a 200-day simple moving average of $38.88.

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

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Evercore ISI increased their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Robert W. Baird increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Bank of America reaffirmed a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research report on Friday, September 20th. Jefferies Financial Group downgraded Essential Utilities from a “buy” rating to a “hold” rating and reduced their target price for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price target on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Essential Utilities currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

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.