Gateway Investment Advisers LLC Makes New Investment in Essential Utilities, Inc. (NYSE:WTRG)

Gateway Investment Advisers LLC purchased a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,223 shares of the company’s stock, valued at approximately $379,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in Essential Utilities by 3.7% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 193,838 shares of the company’s stock valued at $7,182,000 after purchasing an additional 6,916 shares during the last quarter. First Affirmative Financial Network raised its stake in Essential Utilities by 5.1% in the 1st quarter. First Affirmative Financial Network now owns 7,910 shares of the company’s stock valued at $293,000 after purchasing an additional 386 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Essential Utilities by 112.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,513 shares of the company’s stock valued at $56,000 after purchasing an additional 802 shares during the last quarter. CWM LLC raised its stake in Essential Utilities by 6.4% in the 1st quarter. CWM LLC now owns 10,604 shares of the company’s stock valued at $393,000 after purchasing an additional 640 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Essential Utilities by 3.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 196,873 shares of the company’s stock valued at $7,353,000 after purchasing an additional 6,105 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WTRG. Evercore ISI cut their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Robert W. Baird cut their target price on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the sale, the chief accounting officer now owns 57,756 shares in the company, valued at approximately $2,149,100.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Robert A. Rubin sold 2,023 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the completion of the sale, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Essential Utilities Trading Down 0.0 %

NYSE WTRG opened at $37.35 on Thursday. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $43.26. The company has a 50-day moving average of $37.44 and a 200-day moving average of $36.71. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.62 and a quick ratio of 0.52. The company has a market cap of $10.22 billion, a P/E ratio of 17.70, a P/E/G ratio of 3.30 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The company had revenue of $612.07 million for the quarter, compared to analyst estimates of $747.44 million. As a group, equities analysts predict that Essential Utilities, Inc. will post 1.97 earnings per share for the current year.

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.