Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lessened its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 32.8% in the second quarter, HoldingsChannel.com reports. The firm owned 7,760 shares of the company’s stock after selling 3,782 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Essential Utilities were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in WTRG. Tradewinds Capital Management LLC lifted its position in shares of Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after buying an additional 626 shares during the last quarter. Quest Partners LLC bought a new position in Essential Utilities in the fourth quarter worth about $36,000. Tradition Wealth Management LLC boosted its stake 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. Voisard Asset Management Group Inc. acquired a new position in Essential Utilities in the second quarter valued at approximately $37,000. Finally, Webster Bank N. A. bought a new position in shares of Essential Utilities during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Insider Activity at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.06. Following the completion of the sale, the chief accounting officer now directly owns 53,391 shares in the company, valued at $1,998,425.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

Essential Utilities Stock Down 1.3 %

Shares of Essential Utilities stock opened at $38.74 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $41.78. The business’s fifty day moving average price is $39.76 and its two-hundred day moving average price is $37.88. The company has a market capitalization of $10.60 billion, a P/E ratio of 18.36, a PEG ratio of 3.46 and a beta of 0.85.

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

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.3255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a dividend yield of 3.36%. Essential Utilities’s dividend payout ratio (DPR) is 61.61%.

Analyst Upgrades and Downgrades

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

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.