Kathmere Capital Management LLC Cuts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Kathmere Capital Management LLC lowered its stake in Essential Utilities, Inc. (NYSE:WTRG) by 13.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,302 shares of the company’s stock after selling 1,889 shares during the period. Kathmere Capital Management LLC’s holdings in Essential Utilities were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in WTRG. Friedenthal Financial acquired a new stake in Essential Utilities in the third quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new position in Essential Utilities in the third quarter valued at $26,000. Darwin Wealth Management LLC acquired a new stake in Essential Utilities in the third quarter valued at $28,000. First Horizon Advisors Inc. lifted its holdings in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Essential Utilities during the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

NYSE WTRG opened at $34.49 on Thursday. The business has a 50 day moving average price of $37.85 and a 200 day moving average price of $38.75. The company has a market capitalization of $9.47 billion, a P/E ratio of 17.25, a PEG ratio of 3.06 and a beta of 0.86. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same quarter last year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts expect that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WTRG. Jefferies Financial Group lowered Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Bank of America reissued a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. UBS Group dropped their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Robert W. Baird increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.