UMB Bank n.a. Buys 1,784 Shares of Essential Utilities, Inc. (NYSE:WTRG)

UMB Bank n.a. raised its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 991.1% in the third quarter, Holdings Channel reports. The fund owned 1,964 shares of the company’s stock after acquiring an additional 1,784 shares during the period. UMB Bank n.a.’s holdings in Essential Utilities were worth $76,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tradewinds Capital Management LLC increased its holdings in shares of 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 purchasing an additional 626 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of Essential Utilities in the 2nd quarter valued at $37,000. Webster Bank N. A. acquired a new position in Essential Utilities during the 1st quarter worth approximately $41,000. Riverview Trust Co bought a new position in Essential Utilities in the first quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Essential Utilities by 112.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,513 shares of the company’s stock valued at $56,000 after purchasing an additional 802 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WTRG. Jefferies Financial Group initiated coverage on Essential Utilities in a report on Monday, October 7th. They issued a “buy” rating and a $44.00 price objective for the company. Wells Fargo & Company raised their target price on 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 objective 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. Evercore ISI increased their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Finally, Bank of America reiterated a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

Essential Utilities Trading Up 1.8 %

Essential Utilities stock opened at $39.16 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. Essential Utilities, Inc. has a fifty-two week low of $32.42 and a fifty-two week high of $41.78. The stock has a market cap of $10.71 billion, a P/E ratio of 18.56, a PEG ratio of 3.35 and a beta of 0.84. The firm’s fifty day moving average price is $38.98 and its 200-day moving average price is $38.19.

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 analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $434.40 million during the quarter, compared to the consensus estimate of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. Essential Utilities’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Equities research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.3255 per share. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a yield of 3.32%. Essential Utilities’s payout ratio is presently 61.61%.

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.