Livforsakringsbolaget Skandia Omsesidigt Sells 600 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Livforsakringsbolaget Skandia Omsesidigt reduced its position in Essential Utilities, Inc. (NYSE:WTRG) by 37.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000 shares of the company’s stock after selling 600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Essential Utilities were worth $37,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Essential Utilities by 14.7% in the second quarter. SG Americas Securities LLC now owns 6,163 shares of the company’s stock valued at $230,000 after acquiring an additional 791 shares during the period. First Affirmative Financial Network raised its stake in shares of Essential Utilities by 7.7% during the second quarter. First Affirmative Financial Network now owns 8,523 shares of the company’s stock worth $318,000 after acquiring an additional 613 shares in the last quarter. AMF Tjanstepension AB purchased a new position in shares of Essential Utilities during the second quarter worth approximately $11,853,000. Kingswood Wealth Advisors LLC raised its stake in shares of Essential Utilities by 4.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock worth $259,000 after acquiring an additional 297 shares in the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Essential Utilities by 2.8% during the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 199,324 shares of the company’s stock worth $7,441,000 after acquiring an additional 5,486 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WTRG has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. 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 research note on Thursday. Finally, Robert W. Baird lifted their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.40.

Insider Activity

In other news, CAO Robert A. Rubin sold 2,342 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.43, for a total transaction of $87,661.06. Following the sale, the chief accounting officer now owns 53,391 shares in the company, valued at approximately $1,998,425.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.21% of the company’s stock.

Essential Utilities Trading Down 1.7 %

Essential Utilities stock traded down $0.66 during mid-day trading on Monday, reaching $38.85. 226,292 shares of the company traded hands, compared to its average volume of 1,578,924. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.52. The firm’s 50 day moving average price is $38.68 and its 200 day moving average price is $37.21. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 3.50 and a beta of 0.83. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data 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). Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The company had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts anticipate that Essential Utilities, Inc. will post 1.96 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, August 12th. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is 58.29%.

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.