Atomi Financial Group Inc. Purchases 557 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Atomi Financial Group Inc. grew its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,400 shares of the company’s stock after buying an additional 557 shares during the quarter. Atomi Financial Group Inc.’s holdings in Essential Utilities were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. EWG Elevate Inc. bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $200,000. Capital Market Strategies LLC bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $204,000. Sanctuary Advisors LLC bought a new stake in shares of Essential Utilities in the 2nd quarter worth approximately $630,000. Cetera Investment Advisers raised its holdings in shares of Essential Utilities by 5.8% in the 2nd quarter. Cetera Investment Advisers now owns 51,561 shares of the company’s stock worth $1,925,000 after purchasing an additional 2,811 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in shares of Essential Utilities by 2.2% in the 2nd quarter. Pathway Financial Advisers LLC now owns 28,473 shares of the company’s stock worth $1,062,000 after purchasing an additional 605 shares during the period. Institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on WTRG shares. Evercore ISI lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Bank of America reiterated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Jefferies Financial Group started coverage on shares of Essential Utilities in a research note on Monday, October 7th. They issued a “buy” rating and a $44.00 price objective for the company. Robert W. Baird lifted their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and an average target price of $44.80.

Essential Utilities Stock Up 1.9 %

WTRG opened at $39.17 on Friday. The company has a fifty day moving average price of $38.98 and a 200-day moving average price of $38.16. The firm has a market capitalization of $10.72 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. Essential Utilities, Inc. has a one year low of $32.42 and a one year high of $41.78.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. Equities research analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.3255 per share. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, August 12th. Essential Utilities’s payout ratio is 63.41%.

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.