Mitsubishi UFJ Asset Management UK Ltd. Lowers Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Mitsubishi UFJ Asset Management UK Ltd. lessened its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 73.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,000 shares of the company’s stock after selling 11,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Essential Utilities were worth $145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its stake in shares of Essential Utilities by 4,309.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock worth $48,424,000 after buying an additional 1,227,010 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Essential Utilities by 117.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock worth $75,701,000 after purchasing an additional 1,059,320 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares during the period. Point72 Asset Management L.P. bought a new stake in Essential Utilities during the 3rd quarter worth approximately $30,842,000. Finally, JPMorgan Chase & Co. lifted its holdings in Essential Utilities by 33.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after buying an additional 237,096 shares in the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Down 0.3 %

Shares of NYSE WTRG opened at $34.92 on Wednesday. The business has a fifty day moving average price of $37.47 and a 200 day moving average price of $38.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The stock has a market capitalization of $9.59 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.51 and a beta of 0.86.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. During the same quarter last year, the business posted $0.30 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

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 paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is 65.00%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and decreased their price objective for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Robert W. Baird boosted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, UBS Group decreased 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.00.

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.