Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 2.1% in the second quarter, Holdings Channel.com reports. The fund owned 129,059 shares of the company’s stock after selling 2,745 shares during the quarter. TD Asset Management Inc’s holdings in Essential Utilities were worth $4,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC lifted its holdings in Essential Utilities by 857.5% in the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after acquiring an additional 626 shares during the period. Tradition Wealth Management LLC lifted its holdings in Essential Utilities by 246.0% in the fourth quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock valued at $36,000 after acquiring an additional 679 shares during the period. Quest Partners LLC acquired a new stake in Essential Utilities in the fourth quarter valued at $36,000. Voisard Asset Management Group Inc. acquired a new stake in Essential Utilities in the second quarter valued at $37,000. Finally, Webster Bank N. A. acquired a new stake in Essential Utilities in the first quarter valued at $41,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Trading Down 1.8 %

Shares of WTRG stock opened at $39.02 on Thursday. The firm has a 50-day moving average price of $39.58 and a 200 day moving average price of $37.73. Essential Utilities, Inc. has a twelve month low of $32.07 and a twelve month high of $41.78. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 3.49 and a beta of 0.85. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The firm had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts forecast that Essential Utilities, Inc. will post 1.94 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.3255 dividend. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, August 12th. This represents a $1.30 annualized dividend and a yield of 3.34%. Essential Utilities’s payout ratio is presently 61.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WTRG. Wells Fargo & Company lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lifted their price target on Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 2,342 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the completion of the transaction, the chief accounting officer now owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

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.