Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,246 shares of the company's stock after selling 47,108 shares during the period. Hsbc Holdings PLC's holdings in Essential Utilities were worth $4,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. VSM Wealth Advisory LLC bought a new position in Essential Utilities in the fourth quarter worth $26,000. IFP Advisors Inc increased 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 purchasing an additional 473 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Essential Utilities during the 4th quarter worth $45,000. Bessemer Group Inc. increased its stake in shares of Essential Utilities by 98.9% in the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock worth $56,000 after purchasing an additional 778 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Essential Utilities in the fourth quarter worth about $60,000. Institutional investors own 74.78% of the company's stock.

Essential Utilities Trading Up 0.3 %

WTRG traded up $0.14 on Monday, reaching $40.85. 96,123 shares of the company traded hands, compared to its average volume of 1,643,749. The company has a market cap of $11.26 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. The firm has a fifty day simple moving average of $39.33 and a two-hundred day simple moving average of $37.99. Essential Utilities, Inc. has a one year low of $33.18 and a one year 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.

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

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.19%. Essential Utilities's dividend payout ratio is currently 59.91%.

Wall Street Analyst Weigh In

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