Ensign Peak Advisors Inc Acquires 680,760 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Ensign Peak Advisors Inc lifted its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 74.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,593,053 shares of the company's stock after acquiring an additional 680,760 shares during the period. Ensign Peak Advisors Inc owned 0.58% of Essential Utilities worth $57,860,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WTRG. VSM Wealth Advisory LLC acquired a new position in Essential Utilities during the 4th quarter valued at about $26,000. IFP Advisors Inc increased its stake in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after buying an additional 473 shares during the period. New Age Alpha Advisors LLC acquired a new position in Essential Utilities during the 4th quarter valued at about $45,000. Bessemer Group Inc. increased its stake 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 during the period. Finally, Stonebridge Financial Group LLC acquired a new position in Essential Utilities during the 4th quarter valued at about $60,000. Institutional investors own 74.78% of the company's stock.

Essential Utilities Trading Down 4.3%

Shares of WTRG traded down $1.74 during midday trading on Monday, hitting $39.02. The stock had a trading volume of 2,711,788 shares, compared to its average volume of 1,457,792. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The business has a 50-day simple moving average of $39.61 and a two-hundred day simple moving average of $38.01. The firm has a market cap of $10.75 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. 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 (NYSE:WTRG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.23. The business had revenue of $783.63 million during the quarter, compared to analyst estimates of $713.80 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm's revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, equities analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is 59.91%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Evercore ISI boosted 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. StockNews.com upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. UBS Group decreased their target price on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. 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 report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities 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.