Axa S.A. Sells 27,134 Shares of Essential Utilities, Inc. (NYSE:WTRG)

AXA S.A. reduced its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 16.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,471 shares of the company's stock after selling 27,134 shares during the period. AXA S.A. owned 0.05% of Essential Utilities worth $5,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. VSM Wealth Advisory LLC bought a new stake in Essential Utilities during the 4th quarter valued at $26,000. IFP Advisors Inc lifted its holdings in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after purchasing an additional 473 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Essential Utilities in the 4th quarter worth about $45,000. Bessemer Group Inc. grew its holdings in Essential Utilities by 98.9% during the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock valued at $56,000 after buying an additional 778 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Essential Utilities during the fourth quarter valued at about $60,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 2.9%

Shares of NYSE:WTRG traded down $1.17 on Monday, reaching $39.59. 494,607 shares of the company traded hands, compared to its average volume of 1,449,374. The business's 50-day simple moving average is $39.60 and its 200 day simple moving average is $38.01. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.89. The stock has a market capitalization of $10.91 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.23. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. During the same quarter last year, the firm earned $0.97 earnings per share. The business's revenue was up 28.0% on a year-over-year basis. As a group, equities analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.29%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is currently 59.91%.

Analyst Ratings Changes

WTRG has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Evercore ISI boosted their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. UBS Group lowered their target price 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. StockNews.com raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Finally, 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 research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.