23,640 Shares in Essential Utilities, Inc. (NYSE:WTRG) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new position in Essential Utilities, Inc. (NYSE:WTRGFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 23,640 shares of the company’s stock, valued at approximately $859,000.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Essential Utilities by 7.2% during the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after acquiring an additional 332 shares during the period. JPMorgan Chase & Co. raised its stake in Essential Utilities by 33.1% in the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock valued at $36,795,000 after purchasing an additional 237,096 shares in the last quarter. Franklin Resources Inc. lifted its position in Essential Utilities by 1.1% during the third quarter. Franklin Resources Inc. now owns 997,399 shares of the company’s stock worth $39,796,000 after purchasing an additional 10,427 shares during the period. Wilmington Savings Fund Society FSB grew its stake in Essential Utilities by 99.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 54,809 shares of the company’s stock worth $2,114,000 after buying an additional 27,291 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in Essential Utilities by 39.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 24,359 shares of the company’s stock valued at $963,000 after buying an additional 6,900 shares during the period. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $36.16 on Friday. The company’s 50 day moving average price is $38.44 and its two-hundred day moving average price is $38.86. The firm has a market capitalization of $9.93 billion, a P/E ratio of 18.08, a P/E/G ratio of 3.06 and a beta of 0.85. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities, Inc. has a fifty-two week low of $33.57 and a fifty-two week high of $41.78.

Essential Utilities (NYSE:WTRGGet Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Essential Utilities’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. On average, equities analysts forecast that Essential Utilities, Inc. will post 2.01 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Wall Street Analysts Forecast Growth

WTRG has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. Bank of America reiterated a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Wells Fargo & Company dropped their price objective on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Read Our Latest Stock Analysis on Essential Utilities

Essential Utilities Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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