Creative Planning Sells 1,116 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Creative Planning trimmed its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,824 shares of the company’s stock after selling 1,116 shares during the period. Creative Planning’s holdings in Essential Utilities were worth $3,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WTRG. Tradewinds Capital Management LLC boosted its holdings in Essential Utilities by 857.5% during the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after purchasing an additional 626 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new position in Essential Utilities during the second quarter worth $37,000. Webster Bank N. A. acquired a new position in Essential Utilities during the first quarter worth $41,000. Mascoma Wealth Management LLC acquired a new position in Essential Utilities during the second quarter worth $66,000. Finally, Cultivar Capital Inc. acquired a new position in Essential Utilities during the second quarter worth $70,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Trading Down 1.5 %

Shares of NYSE:WTRG opened at $38.84 on Friday. Essential Utilities, Inc. has a 12-month low of $32.95 and a 12-month high of $41.78. The stock has a market cap of $10.62 billion, a PE ratio of 18.41, a P/E/G ratio of 3.52 and a beta of 0.84. The business has a 50 day moving average of $39.07 and a 200-day moving average of $38.43. 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 issued its quarterly earnings data 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 return on equity of 8.16% and a net margin of 28.74%. The firm had revenue of $434.40 million for the quarter, compared to the consensus estimate of $442.76 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Monday, August 12th. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is currently 61.61%.

Analyst Upgrades and Downgrades

WTRG has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on shares of Essential Utilities in a report on Monday, October 7th. They set a “buy” rating and a $44.00 target price for the company. Wells Fargo & Company boosted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. Evercore ISI boosted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird boosted their price target on Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.80.

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.