CENTRAL TRUST Co Purchases 7,431 Shares of Essential Utilities, Inc. (NYSE:WTRG)

CENTRAL TRUST Co raised its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 39.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,101 shares of the company’s stock after buying an additional 7,431 shares during the quarter. CENTRAL TRUST Co’s holdings in Essential Utilities were worth $1,007,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WTRG. International Assets Investment Management LLC bought a new stake in shares of Essential Utilities in the 3rd quarter worth about $3,785,000. Coston McIsaac & Partners grew its position in Essential Utilities by 3.8% in the third quarter. Coston McIsaac & Partners now owns 107,694 shares of the company’s stock worth $4,153,000 after acquiring an additional 3,915 shares in the last quarter. Blossom Wealth Management increased its stake in Essential Utilities by 3.2% during the third quarter. Blossom Wealth Management now owns 14,780 shares of the company’s stock worth $570,000 after acquiring an additional 465 shares during the last quarter. Eastern Bank purchased a new stake in Essential Utilities during the third quarter valued at approximately $1,901,000. Finally, Cetera Trust Company N.A lifted its stake in shares of Essential Utilities by 12.6% in the 3rd quarter. Cetera Trust Company N.A now owns 4,465 shares of the company’s stock valued at $172,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target 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 shares of Essential Utilities in a report on Monday, October 7th. They issued a “buy” rating and a $44.00 target price for the company. Robert W. Baird upped their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America reissued a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Evercore ISI upped their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $44.80.

Essential Utilities Price Performance

Essential Utilities stock opened at $38.84 on Friday. 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 cap of $10.62 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 3.52 and a beta of 0.84. The firm has a 50-day moving average of $39.08 and a two-hundred day moving average of $38.40. Essential Utilities, Inc. has a 1 year low of $32.95 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million during 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 in the previous year, the firm posted $0.34 EPS. On average, research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current 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 paid a dividend of $0.3255 per share. The ex-dividend date was Monday, August 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.35%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio (DPR) is currently 61.61%.

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.