Xponance Inc. Boosts Stake in Essential Utilities, Inc. (NYSE:WTRG)

Xponance Inc. grew its stake in Essential Utilities, Inc. (NYSE:WTRG) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,397 shares of the company’s stock after buying an additional 3,249 shares during the period. Xponance Inc.’s holdings in Essential Utilities were worth $1,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Essential Utilities in the third quarter worth $26,000. First Horizon Advisors Inc. raised its holdings in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 294 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Essential Utilities during the third quarter worth $42,000. IFP Advisors Inc raised its holdings in shares of Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after purchasing an additional 473 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Essential Utilities during the fourth quarter worth $60,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group reduced their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company raised their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. Finally, Evercore ISI raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.50.

Essential Utilities Stock Down 1.2 %

WTRG opened at $38.39 on Friday. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two 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. The company has a fifty day moving average of $36.61 and a two-hundred day moving average of $37.83. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. On average, research analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.39%. Essential Utilities’s dividend payout ratio (DPR) is 59.91%.

Essential Utilities 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.