Essential Utilities, Inc. (NYSE:WTRG) Stock Position Raised by MetLife Investment Management LLC

MetLife Investment Management LLC increased its position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,401 shares of the company's stock after purchasing an additional 12,268 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Essential Utilities worth $5,172,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities during the fourth quarter worth $26,000. IFP Advisors Inc grew its position in shares of 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 last quarter. New Age Alpha Advisors LLC acquired a new stake in Essential Utilities during the fourth quarter worth about $45,000. Bessemer Group Inc. lifted its holdings in Essential Utilities by 98.9% in the fourth quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock worth $56,000 after acquiring an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in Essential Utilities in the fourth quarter valued at approximately $60,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Price Performance

WTRG traded up $0.22 on Tuesday, reaching $40.50. The company had a trading volume of 190,204 shares, compared to its average volume of 1,457,415. The company has a market capitalization of $11.16 billion, a P/E ratio of 20.25, a PEG ratio of 2.57 and a beta of 0.80. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average of $39.02 and a 200-day moving average of $37.97. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping 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 company had revenue of $604.38 million during the quarter, compared to analyst estimates of $698.77 million. As a group, equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

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 given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Evercore ISI increased their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company boosted their price target 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. UBS Group cut their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.