58,349 Shares in Essential Utilities, Inc. (NYSE:WTRG) Bought by RWC Asset Management LLP

RWC Asset Management LLP bought a new position in Essential Utilities, Inc. (NYSE:WTRG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 58,349 shares of the company’s stock, valued at approximately $2,119,000.

Several other institutional investors have also recently bought and sold shares of WTRG. Pathway Financial Advisers LLC raised its holdings in Essential Utilities by 4,309.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock worth $48,424,000 after acquiring an additional 1,227,010 shares during the period. Nordea Investment Management AB increased its holdings in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Essential Utilities during the 3rd quarter worth about $30,842,000. Allianz Asset Management GmbH increased its holdings in shares of Essential Utilities by 51.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,935,818 shares of the company’s stock worth $70,309,000 after purchasing an additional 656,136 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Essential Utilities by 33.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after purchasing an additional 237,096 shares during the period. Institutional investors own 74.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WTRG. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. UBS Group dropped their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Robert W. Baird boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Stock Performance

NYSE WTRG opened at $36.58 on Monday. The stock has a market cap of $10.04 billion, a P/E ratio of 18.29, a PEG ratio of 2.57 and a beta of 0.86. The company’s 50-day simple moving average is $35.54 and its 200 day simple moving average is $37.89. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.56%. Essential Utilities’s dividend payout ratio (DPR) is presently 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.