Capital Market Strategies LLC Makes New Investment in Essential Utilities, Inc. (NYSE:WTRG)

Capital Market Strategies LLC acquired a new position in Essential Utilities, Inc. (NYSE:WTRG) during the third quarter, Holdings Channel.com reports. The firm acquired 5,300 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Essential Utilities by 24.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,120 shares of the company’s stock valued at $5,636,000 after purchasing an additional 30,152 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Essential Utilities by 12.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company’s stock worth $5,171,000 after purchasing an additional 15,009 shares during the last quarter. Nordea Investment Management AB grew its position in Essential Utilities by 17,553.7% in the 1st 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. Epoch Investment Partners Inc. bought a new position in Essential Utilities in the 1st quarter worth about $46,280,000. Finally, Boston Trust Walden Corp grew its position in Essential Utilities by 350.3% in the 2nd quarter. Boston Trust Walden Corp now owns 903,372 shares of the company’s stock worth $33,723,000 after purchasing an additional 702,760 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG opened at $38.68 on Friday. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $41.78. The company’s fifty day moving average is $39.26 and its 200-day moving average is $38.07. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 3.41 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) 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 firm had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Equities analysts expect that Essential Utilities, Inc. will post 1.95 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 an increase from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a yield of 3.37%. Essential Utilities’s dividend payout ratio is 61.61%.

Wall Street Analyst Weigh In

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

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.