Ingalls & Snyder LLC Sells 425 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Ingalls & Snyder LLC trimmed its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,463 shares of the company’s stock after selling 425 shares during the quarter. Ingalls & Snyder LLC’s holdings in Essential Utilities were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Friedenthal Financial bought a new position in shares of Essential Utilities in the 3rd quarter worth about $25,000. Brooklyn Investment Group bought a new stake in Essential Utilities during the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC bought a new stake in Essential Utilities during the 3rd quarter valued at about $28,000. First Horizon Advisors Inc. increased 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 bought a new stake in Essential Utilities during the 3rd quarter valued at about $42,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

WTRG opened at $35.84 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 2.53 and a beta of 0.86. The company’s 50 day moving average is $35.99 and its 200 day moving average is $38.15. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Ratings Changes

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

About Essential Utilities

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.