Weaver C. Barksdale & Associates Inc. Has $1.80 Million Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Weaver C. Barksdale & Associates Inc. reduced its stake in Essential Utilities, Inc. (NYSE:WTRG) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,508 shares of the company’s stock after selling 1,234 shares during the period. Essential Utilities accounts for approximately 1.7% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 25th largest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Essential Utilities were worth $1,798,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Essential Utilities during the 3rd quarter worth about $26,000. VSM Wealth Advisory LLC bought a new stake in Essential Utilities in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. raised its holdings 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 purchasing an additional 294 shares during the period. IFP Advisors Inc boosted its position in shares of Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after purchasing an additional 473 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Essential Utilities in the 3rd quarter valued at $42,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on WTRG shares. Jefferies Financial Group upgraded 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. Wells Fargo & Company increased their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Evercore ISI lifted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Finally, UBS Group lowered their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. 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, Essential Utilities currently has an average rating of “Moderate Buy” and an average price target of $43.50.

Essential Utilities Price Performance

NYSE WTRG opened at $37.94 on Wednesday. The firm’s 50 day moving average is $36.77 and its 200-day moving average is $37.81. 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 company has a market capitalization of $10.43 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.43%. Essential Utilities’s dividend payout ratio is 59.91%.

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.