Axa S.A. Purchases 23,242 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Axa S.A. grew its position in Essential Utilities, Inc. (NYSE:WTRG) by 16.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 164,201 shares of the company’s stock after purchasing an additional 23,242 shares during the period. Axa S.A.’s holdings in Essential Utilities were worth $6,130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Essential Utilities by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock valued at $1,045,504,000 after acquiring an additional 823,495 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Essential Utilities by 17,553.7% during the first quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock worth $126,156,000 after purchasing an additional 3,405,947 shares during the last quarter. Bank of New York Mellon Corp grew its position in Essential Utilities by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 2,754,099 shares of the company’s stock valued at $102,811,000 after purchasing an additional 9,822 shares in the last quarter. Tandem Investment Advisors Inc. grew its position in Essential Utilities by 0.7% in the second quarter. Tandem Investment Advisors Inc. now owns 2,023,937 shares of the company’s stock valued at $75,554,000 after purchasing an additional 13,557 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Essential Utilities by 6.0% in the 4th quarter. First Trust Advisors LP now owns 1,519,001 shares of the company’s stock valued at $56,735,000 after buying an additional 86,193 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Price Performance

NYSE:WTRG opened at $38.40 on Friday. Essential Utilities, Inc. has a 12-month low of $32.07 and a 12-month high of $41.78. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 3.37 and a beta of 0.85. The stock’s 50 day moving average price is $39.44 and its two-hundred day moving average price is $38.02. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The business had revenue of $434.40 million during the quarter, compared to the consensus estimate of $442.76 million. During the same quarter last year, the company posted $0.34 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Essential Utilities, Inc. will post 1.95 earnings per share for the current year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.39%. 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. Essential Utilities’s dividend payout ratio (DPR) is currently 61.61%.

Insider Buying and Selling

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the 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 transaction, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WTRG shares. Wells Fargo & Company increased their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird increased their price target on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America reaffirmed a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. Finally, Evercore ISI increased their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.00.

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.