Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its position in Essential Utilities, Inc. (NYSE:WTRGFree Report) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,915 shares of the company’s stock after selling 759 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Essential Utilities were worth $251,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WTRG. Friedenthal Financial bought a new stake in shares of Essential Utilities in the third quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of Essential Utilities in the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC bought a new position in Essential Utilities in the third quarter worth about $28,000. First Horizon Advisors Inc. raised its position in shares of Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 294 shares during the period. Finally, Truvestments Capital LLC bought a new stake in Essential Utilities in the third quarter valued at $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG opened at $35.07 on Monday. The company’s 50 day moving average price is $37.56 and its 200 day moving average price is $38.70. The company has a market capitalization of $9.63 billion, a PE ratio of 17.54, a PEG ratio of 2.44 and a beta of 0.86. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities (NYSE:WTRGGet Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm 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%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. Research analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s payout ratio is 65.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Robert W. Baird boosted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Finally, UBS Group cut their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.00.

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About Essential Utilities

(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.

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

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