Cwm LLC Buys 1,397 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Cwm LLC lifted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 13.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,995 shares of the company’s stock after buying an additional 1,397 shares during the period. Cwm LLC’s holdings in Essential Utilities were worth $463,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WTRG. Tradewinds Capital Management LLC boosted its holdings in Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after acquiring an additional 626 shares during the last quarter. Voisard Asset Management Group Inc. bought a new stake in Essential Utilities in the 2nd quarter worth about $37,000. Webster Bank N. A. bought a new stake in Essential Utilities in the 1st quarter worth about $41,000. Riverview Trust Co purchased a new stake in Essential Utilities in the 1st quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Essential Utilities by 112.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,513 shares of the company’s stock worth $56,000 after buying an additional 802 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 1.2 %

Shares of WTRG opened at $40.55 on Friday. Essential Utilities, Inc. has a fifty-two week low of $32.42 and a fifty-two week high of $41.78. The business has a 50-day moving average of $39.02 and a 200 day moving average of $38.30. The firm has a market cap of $11.10 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 3.46 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58.

Essential Utilities (NYSE:WTRG) last posted 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 business had revenue of $434.40 million during 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%. Essential Utilities’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. As a group, research analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.3255 dividend. 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 3.21%. The ex-dividend date of this dividend was Monday, August 12th. Essential Utilities’s dividend payout ratio (DPR) is presently 63.41%.

Analyst Ratings Changes

WTRG has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group initiated coverage on Essential Utilities in a research report on Monday, October 7th. They set a “buy” rating and a $44.00 target price for the company. Evercore ISI lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Bank of America restated a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. Finally, Robert W. Baird lifted their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.80.

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.