Mediolanum International Funds Ltd Has $361,000 Stake in Essential Utilities, Inc. (NYSE:WTRG)

Mediolanum International Funds Ltd increased its stake in Essential Utilities, Inc. (NYSE:WTRG) by 62.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,414 shares of the company’s stock after purchasing an additional 3,624 shares during the period. Mediolanum International Funds Ltd’s holdings in Essential Utilities were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of 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 buying an additional 3,405,947 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Essential Utilities in the first quarter valued at approximately $46,280,000. Energy Income Partners LLC bought a new stake in shares of Essential Utilities in the first quarter worth $26,917,000. Boston Trust Walden Corp boosted its holdings in Essential Utilities by 350.3% during the second 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. Finally, AMF Tjanstepension AB bought a new position in Essential Utilities in the second quarter valued at $11,853,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Down 1.5 %

Essential Utilities stock opened at $38.84 on Monday. The company’s 50-day moving average price is $39.07 and its two-hundred day moving average price is $38.45. 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 stock has a market cap of $10.62 billion, a P/E ratio of 18.41, a P/E/G ratio of 3.52 and a beta of 0.84. Essential Utilities, Inc. has a twelve month low of $32.95 and a twelve month high of $41.78.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $442.76 million. During the same period in the previous year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.35%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, August 12th. Essential Utilities’s dividend payout ratio (DPR) is currently 61.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group began 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. Evercore ISI upped their price objective on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Bank of America reissued a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. 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. Finally, Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.