Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. lifted its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 160.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,689 shares of the company's stock after buying an additional 63,912 shares during the quarter. Baird Financial Group Inc.'s holdings in Essential Utilities were worth $3,766,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in Essential Utilities during the fourth quarter worth about $5,268,000. Northern Trust Corp lifted its holdings in shares of Essential Utilities by 22.0% during the 4th quarter. Northern Trust Corp now owns 3,331,090 shares of the company's stock worth $120,985,000 after acquiring an additional 601,026 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Essential Utilities in the fourth quarter worth approximately $2,405,000. Coldstream Capital Management Inc. boosted its position in shares of Essential Utilities by 3.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 59,608 shares of the company's stock worth $2,165,000 after acquiring an additional 1,982 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in Essential Utilities by 80.8% in the fourth quarter. Voya Investment Management LLC now owns 59,528 shares of the company's stock valued at $2,162,000 after purchasing an additional 26,611 shares during the period. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $40.74 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.57 and a beta of 0.85. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The company's 50-day simple moving average is $39.60 and its 200-day simple moving average is $38.02.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $604.38 million during the quarter, compared to analyst estimates of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Equities analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.20%. Essential Utilities's dividend payout ratio (DPR) is 59.91%.

Analysts Set New Price Targets

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

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