National Bank of Canada FI Sells 1,152 Shares of Essential Utilities, Inc. (NYSE:WTRG)

National Bank of Canada FI reduced its stake in Essential Utilities, Inc. (NYSE:WTRG) by 52.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,062 shares of the company’s stock after selling 1,152 shares during the period. National Bank of Canada FI’s holdings in Essential Utilities were worth $41,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Weiss Asset Management LP bought a new stake in Essential Utilities in the third quarter valued at $7,301,000. Wills Financial Group Inc. increased its stake in Essential Utilities by 0.8% in the third quarter. Wills Financial Group Inc. now owns 161,045 shares of the company’s stock valued at $6,211,000 after purchasing an additional 1,264 shares in the last quarter. Quantinno Capital Management LP increased its stake in Essential Utilities by 19.9% in the third quarter. Quantinno Capital Management LP now owns 12,156 shares of the company’s stock valued at $469,000 after purchasing an additional 2,014 shares in the last quarter. Quarry LP bought a new stake in shares of Essential Utilities during the third quarter worth about $150,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Essential Utilities during the third quarter worth about $812,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Down 0.9 %

Essential Utilities stock opened at $37.99 on Wednesday. Essential Utilities, Inc. has a fifty-two week low of $33.57 and a fifty-two week high of $41.78. The stock has a market cap of $10.43 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 3.06 and a beta of 0.85. The firm’s 50-day simple moving average is $39.34 and its 200 day simple moving average is $38.97. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. During the same period in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts predict that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.43%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WTRG shares. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company decreased their target price on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their target price for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Finally, Bank of America reissued a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research report on Friday, September 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

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.