Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Spirit of America Management Corp NY

Spirit of America Management Corp NY increased its stake in Essential Utilities, Inc. (NYSE:WTRG) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,500 shares of the company’s stock after buying an additional 3,500 shares during the quarter. Spirit of America Management Corp NY’s holdings in Essential Utilities were worth $781,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Friedenthal Financial acquired a new stake in Essential Utilities during the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new stake in Essential Utilities during the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new stake in Essential Utilities during the 3rd quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its stake in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Robert W. Baird increased their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group reduced their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Essential Utilities Stock Down 1.6 %

Shares of WTRG stock opened at $35.44 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The stock has a market cap of $9.73 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.54 and a beta of 0.87. The business’s fifty day moving average is $36.64 and its 200-day moving average is $38.39. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business 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 company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. Equities analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.67%. 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.