Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lowered its stake in Essential Utilities, Inc. (NYSE:WTRG) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,020 shares of the company’s stock after selling 10,525 shares during the period. Arcadia Investment Management Corp MI’s holdings in Essential Utilities were worth $2,546,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Friedenthal Financial acquired a new position in shares of Essential Utilities in the third quarter valued at approximately $25,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Essential Utilities in the second quarter valued at approximately $37,000. Farther Finance Advisors LLC boosted its stake in shares of Essential Utilities by 81.2% in the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after buying an additional 515 shares in the last quarter. Bfsg LLC boosted its stake in shares of Essential Utilities by 157.0% in the third quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after buying an additional 727 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Essential Utilities in the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Down 0.9 %

WTRG opened at $38.24 on Friday. The business’s fifty day moving average is $38.99 and its two-hundred day moving average is $38.57. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. The company has a market cap of $10.47 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.35 and a beta of 0.84. Essential Utilities, Inc. has a one year low of $33.28 and a one year high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The firm had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.40%. Essential Utilities’s dividend payout ratio is currently 63.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Essential Utilities in a research note on Monday, October 7th. They issued a “buy” rating and a $44.00 price target on the stock. Bank of America restated a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Robert W. Baird lifted their price target on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Evercore ISI lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and an average target price of $44.80.

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.