145,037 Shares in Essential Utilities, Inc. (NYSE:WTRG) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 145,037 shares of the company's stock, valued at approximately $5,268,000. BNP Paribas Financial Markets owned 0.05% of Essential Utilities as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WTRG. Norges Bank bought a new stake in shares of Essential Utilities in the fourth quarter worth approximately $102,600,000. Vanguard Group Inc. grew its stake in shares of Essential Utilities by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company's stock worth $1,091,820,000 after acquiring an additional 2,245,256 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Essential Utilities by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company's stock worth $244,296,000 after acquiring an additional 1,597,672 shares during the period. Cohen & Steers Inc. bought a new stake in Essential Utilities during the fourth quarter valued at approximately $52,355,000. Finally, Allianz Asset Management GmbH grew its position in Essential Utilities by 51.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,935,818 shares of the company's stock valued at $70,309,000 after buying an additional 656,136 shares during the period. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Price Performance

NYSE:WTRG traded up $0.72 during trading hours on Friday, hitting $38.88. 1,308,447 shares of the stock traded hands, compared to its average volume of 1,469,195. 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 1 year low of $33.18 and a 1 year high of $41.78. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. The stock has a 50 day moving average price of $39.47 and a 200 day moving average price of $38.00.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.23. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $783.63 million for the quarter, compared to the consensus estimate of $713.80 million. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The company's revenue for the quarter was up 28.0% on a year-over-year basis. Sell-side analysts forecast that Essential Utilities, Inc. will post 1.99 EPS 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. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is currently 58.30%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WTRG shares. Robert W. Baird cut their target price on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. StockNews.com upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Evercore ISI boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.