Cibc World Markets Corp Lowers Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Cibc World Markets Corp cut its position in Essential Utilities, Inc. (NYSE:WTRG) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,765 shares of the company’s stock after selling 3,377 shares during the quarter. Cibc World Markets Corp’s holdings in Essential Utilities were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Gitterman Wealth Management LLC lifted its stake in Essential Utilities by 11.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 10,243 shares of the company’s stock worth $372,000 after purchasing an additional 1,020 shares in the last quarter. Natixis Advisors LLC lifted its stake in Essential Utilities by 38.9% in the 4th quarter. Natixis Advisors LLC now owns 92,228 shares of the company’s stock worth $3,350,000 after purchasing an additional 25,846 shares in the last quarter. LBP AM SA lifted its stake in Essential Utilities by 2.9% in the 4th quarter. LBP AM SA now owns 64,233 shares of the company’s stock worth $2,333,000 after purchasing an additional 1,809 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of Essential Utilities by 5.4% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,945 shares of the company’s stock valued at $289,000 after buying an additional 409 shares in the last quarter. Finally, Vestcor Inc raised its position in shares of Essential Utilities by 6.6% during the 4th quarter. Vestcor Inc now owns 21,571 shares of the company’s stock valued at $783,000 after buying an additional 1,332 shares in the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on WTRG shares. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, January 28th. UBS Group lowered their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company raised their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Finally, Evercore ISI raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Price Performance

WTRG stock opened at $38.39 on Monday. 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, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The firm’s fifty day moving average is $36.61 and its 200 day moving average is $37.82. The firm has a market cap of $10.55 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

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.