Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 74.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,593,053 shares of the company's stock after buying an additional 680,760 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.58% of Essential Utilities worth $57,860,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WTRG. Fulton Bank N.A. purchased a new stake in shares of Essential Utilities during the 4th quarter worth about $288,000. Wealth Enhancement Advisory Services LLC increased its holdings in Essential Utilities by 28.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,605 shares of the company's stock worth $2,338,000 after acquiring an additional 13,518 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Essential Utilities by 219.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 122,581 shares of the company's stock valued at $4,452,000 after purchasing an additional 84,208 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of Essential Utilities by 2.8% in the fourth quarter. Hennessy Advisors Inc. now owns 175,500 shares of the company's stock valued at $6,374,000 after purchasing an additional 4,800 shares during the period. Finally, Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in Essential Utilities by 0.9% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 201,926 shares of the company's stock worth $7,334,000 after buying an additional 1,719 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company's stock.

Analyst Ratings Changes

WTRG has been the topic of several recent research reports. StockNews.com raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Wells Fargo & Company raised their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Jefferies Financial Group raised 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. Evercore ISI lifted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Finally, Robert W. Baird decreased their price target 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities Stock Performance

WTRG traded up $0.93 on Thursday, hitting $37.89. 811,658 shares of the company traded hands, compared to its average volume of 1,463,967. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average of $39.53 and a 200-day moving average of $38.00. The stock has a market capitalization of $10.44 billion, a PE ratio of 18.91, a PEG ratio of 2.57 and a beta of 0.85.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.23. The business had revenue of $783.63 million during the quarter, compared to the consensus estimate of $713.80 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business's revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 EPS. Sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.44%. Essential Utilities's payout ratio is currently 58.30%.

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.