Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Korea Investment CORP

Korea Investment CORP raised its position in Essential Utilities, Inc. (NYSE:WTRG) by 34.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,029 shares of the company’s stock after buying an additional 22,200 shares during the period. Korea Investment CORP’s holdings in Essential Utilities were worth $3,161,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WTRG. VSM Wealth Advisory LLC acquired a new position in Essential Utilities in the 4th quarter valued at $26,000. IFP Advisors Inc raised its position in shares of Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after buying an additional 473 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Essential Utilities in the fourth quarter worth about $60,000. Crews Bank & Trust acquired a new position in Essential Utilities during the fourth quarter worth about $90,000. Finally, Quarry LP acquired a new position in Essential Utilities during the third quarter worth about $150,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. UBS Group cut 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. Wells Fargo & Company lifted their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Finally, Evercore ISI increased 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities has a consensus rating of “Moderate Buy” and an average target price of $43.50.

Essential Utilities Trading Up 0.0 %

WTRG opened at $39.54 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. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The company has a market cap of $10.89 billion, a P/E ratio of 19.77, a PEG ratio of 2.57 and a beta of 0.79. The business’s 50-day simple moving average is $37.19 and its 200-day simple moving average is $37.81.

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

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is currently 59.91%.

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.