Blossom Wealth Management Acquires 1,070 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Blossom Wealth Management increased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,850 shares of the company’s stock after buying an additional 1,070 shares during the period. Essential Utilities accounts for about 1.1% of Blossom Wealth Management’s investment portfolio, making the stock its 27th biggest holding. Blossom Wealth Management’s holdings in Essential Utilities were worth $576,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Friedenthal Financial acquired a new position in shares of Essential Utilities in the 3rd quarter valued at $25,000. Brooklyn Investment Group bought a new stake in shares of Essential Utilities in the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities in the 3rd quarter valued at approximately $28,000. First Horizon Advisors Inc. increased its stake in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities in the third quarter worth $42,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday. UBS Group dropped their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird boosted their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Stock Performance

WTRG opened at $35.46 on Friday. The firm has a market cap of $9.74 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 2.52 and a beta of 0.86. The business’s fifty day moving average is $36.72 and its 200-day moving average is $38.46. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. 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 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 return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same period in the prior year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently disclosed 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 dividend yield of 3.67%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is 65.00%.

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.