Kingswood Wealth Advisors LLC Makes New Investment in Essential Utilities, Inc. (NYSE:WTRG)

Kingswood Wealth Advisors LLC bought a new stake in Essential Utilities, Inc. (NYSE:WTRG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,650 shares of the company’s stock, valued at approximately $246,000.

Other institutional investors have also bought and sold shares of the company. Bare Financial Services Inc purchased a new position in shares of Essential Utilities in the 4th quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV grew its stake in Essential Utilities by 604.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock valued at $27,000 after purchasing an additional 610 shares during the period. Lindbrook Capital LLC increased its position in shares of Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after purchasing an additional 325 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Essential Utilities by 4,210.0% during the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after purchasing an additional 842 shares during the period. Finally, Resources Management Corp CT ADV boosted its holdings in shares of Essential Utilities by 250.0% in the 3rd quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 750 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

WTRG has been the topic of a number of research analyst reports. Evercore ISI dropped their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Robert W. Baird dropped their price objective on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Transactions at Essential Utilities

In related news, CAO Robert A. Rubin sold 5,565 shares of the firm’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 transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $488,368.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 57,756 shares in the company, valued at approximately $2,149,100.76. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Essential Utilities Stock Down 0.2 %

Essential Utilities stock opened at $37.33 on Friday. The firm has a market capitalization of $10.21 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 3.30 and a beta of 0.84. The firm has a 50 day simple moving average of $37.58 and a 200 day simple moving average of $36.73. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $43.26. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG) last released 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 firm had revenue of $612.07 million during the quarter, compared to the consensus estimate of $747.44 million. On average, analysts predict that Essential Utilities, Inc. will post 1.97 earnings per share for the current year.

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.