Intech Investment Management LLC Acquires 28,010 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Intech Investment Management LLC increased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 156.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 45,942 shares of the company’s stock after acquiring an additional 28,010 shares during the period. Intech Investment Management LLC’s holdings in Essential Utilities were worth $1,715,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Essential Utilities by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock worth $1,045,504,000 after purchasing an additional 823,495 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Essential Utilities by 17,553.7% in 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. Bank of New York Mellon Corp boosted its position in shares of Essential Utilities by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 2,754,099 shares of the company’s stock worth $102,811,000 after acquiring an additional 9,822 shares during the last quarter. Tandem Investment Advisors Inc. grew its stake in Essential Utilities by 0.7% during the second quarter. Tandem Investment Advisors Inc. now owns 2,023,937 shares of the company’s stock valued at $75,554,000 after acquiring an additional 13,557 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Essential Utilities by 6.0% during the fourth quarter. First Trust Advisors LP now owns 1,519,001 shares of the company’s stock valued at $56,735,000 after acquiring an additional 86,193 shares in the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Up 0.7 %

Essential Utilities stock opened at $38.27 on Tuesday. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $41.78. The business has a fifty day moving average price of $39.65 and a 200-day moving average price of $37.97. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 3.55 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last released its 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). The company had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. Equities research analysts forecast that Essential Utilities, Inc. will post 1.94 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.3255 dividend. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, August 12th. This represents a $1.30 dividend on an annualized basis and a yield of 3.40%. Essential Utilities’s dividend payout ratio (DPR) is 61.61%.

Insiders Place Their Bets

In other news, CAO Robert A. Rubin sold 2,342 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.06. Following the transaction, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America restated a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday. Robert W. Baird upped their price objective on Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Evercore ISI raised their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

About Essential Utilities

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.