Swedbank AB Acquires 8,148 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Swedbank AB raised its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 282,370 shares of the company’s stock after buying an additional 8,148 shares during the quarter. Swedbank AB owned 0.10% of Essential Utilities worth $10,891,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC lifted its stake in shares of Essential Utilities by 4.5% in the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock valued at $259,000 after buying an additional 297 shares during the period. Sanibel Captiva Trust Company Inc. grew its holdings in shares of Essential Utilities by 5.4% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock worth $240,000 after purchasing an additional 334 shares in the last quarter. Meeder Advisory Services Inc. increased its position in shares of Essential Utilities by 5.5% during the first quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock valued at $241,000 after purchasing an additional 339 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Essential Utilities by 8.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,416 shares of the company’s stock valued at $165,000 after purchasing an additional 352 shares in the last quarter. Finally, First Affirmative Financial Network lifted its position in Essential Utilities by 5.1% in the first quarter. First Affirmative Financial Network now owns 7,910 shares of the company’s stock worth $293,000 after purchasing an additional 386 shares during the period. 74.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WTRG. 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 increased their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group started coverage on shares of Essential Utilities in a research note on Monday, October 7th. They set a “buy” rating and a $44.00 price target for the company. Evercore ISI upped their price objective on 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 increased their target price on Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

Essential Utilities Price Performance

NYSE:WTRG opened at $40.09 on Friday. The firm has a market cap of $10.96 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. The company’s 50-day moving average price is $39.00 and its two-hundred day moving average price is $38.26. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. Essential Utilities, Inc. has a 12 month low of $32.42 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.3255 dividend. The ex-dividend date of this dividend was Monday, August 12th. 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 3.25%. Essential Utilities’s dividend payout ratio (DPR) is 61.61%.

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.