9,985 Shares in Essential Utilities, Inc. (NYSE:WTRG) Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S bought a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,985 shares of the company's stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WTRG. VSM Wealth Advisory LLC bought a new position in shares of Essential Utilities during the 4th quarter valued at approximately $26,000. IFP Advisors Inc lifted its position in 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 purchasing an additional 473 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth $45,000. Bessemer Group Inc. increased its holdings in shares of Essential Utilities by 98.9% in the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock worth $56,000 after buying an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Essential Utilities in the 4th quarter valued at about $60,000. Institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Up 0.7 %

Shares of WTRG stock traded up $0.30 on Wednesday, hitting $41.07. The stock had a trading volume of 2,348,139 shares, compared to its average volume of 1,464,045. 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, Inc. has a one year low of $33.18 and a one year high of $41.78. The business has a 50 day moving average price of $39.20 and a 200 day moving average price of $38.01. The company has a market cap of $11.32 billion, a PE ratio of 20.54, a P/E/G ratio of 2.57 and a beta of 0.80.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) 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 firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio is currently 59.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WTRG shares. StockNews.com raised Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. 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. Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a report on Tuesday, January 28th. Finally, UBS Group dropped their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Essential Utilities presently has an average rating of "Moderate Buy" and an average price target of $43.50.

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.