Kathmere Capital Management LLC Sells 1,676 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Kathmere Capital Management LLC trimmed its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 10.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,669 shares of the company’s stock after selling 1,676 shares during the quarter. Kathmere Capital Management LLC’s holdings in Essential Utilities were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Tradewinds Capital Management LLC boosted its stake in Essential Utilities by 857.5% in the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after acquiring an additional 626 shares in the last quarter. Tradition Wealth Management LLC increased its position in shares of Essential Utilities by 246.0% during the fourth quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock worth $36,000 after purchasing an additional 679 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Essential Utilities during the 4th quarter valued at $36,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Essential Utilities in the 2nd quarter worth $37,000. Finally, Webster Bank N. A. purchased a new position in Essential Utilities during the 1st quarter worth $41,000. 74.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Robert A. Rubin sold 2,342 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.43, for a total transaction of $87,661.06. Following the sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

WTRG has been the subject of a number of research analyst reports. Bank of America reissued a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company lifted their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI upped their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird raised their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $38.40 on Friday. Essential Utilities, Inc. has a 52 week low of $32.07 and a 52 week high of $41.78. 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 firm has a market cap of $10.51 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.37 and a beta of 0.85. The business’s 50 day moving average price is $39.44 and its 200 day moving average price is $38.02.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $434.40 million during the quarter, compared to analyst estimates 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 was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. On average, sell-side analysts expect that Essential Utilities, Inc. will post 1.95 earnings per share for the current year.

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.3255 per share. The ex-dividend date was Monday, August 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio (DPR) is presently 61.61%.

Essential Utilities Company 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.