Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,061,135 shares of the company’s stock after purchasing an additional 2,245,256 shares during the period. Vanguard Group Inc. owned 10.95% of Essential Utilities worth $1,091,820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WTRG. Brooklyn Investment Group purchased a new position in Essential Utilities during the 3rd quarter worth $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Essential Utilities during the fourth quarter worth about $26,000. IFP Advisors Inc increased 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 valued at $40,000 after acquiring an additional 473 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Essential Utilities in the 4th quarter valued at approximately $60,000. Finally, Crews Bank & Trust acquired a new stake in Essential Utilities in the 4th quarter worth approximately $90,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 1.7 %

NYSE WTRG opened at $39.30 on Friday. 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. The company has a market capitalization of $10.80 billion, a PE ratio of 19.65, a P/E/G ratio of 2.57 and a beta of 0.79. The company has a fifty day moving average of $37.00 and a 200 day moving average of $37.82.

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

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.31%. Essential Utilities’s payout ratio is 59.91%.

Analysts Set New Price Targets

A number of brokerages have issued reports on WTRG. UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group upgraded 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, January 28th. Wells Fargo & Company lifted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, Evercore ISI increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.50.

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.