32,494 Shares in Essential Utilities Inc. $WTRG Purchased by Christine Messmer PC

Key Points

• Christine Messmer PC bought a new position of 32,494 shares in Essential Utilities (NYSE:WTRG) during Q4, valued at about $1.246 million and representing 0.8% of the fund's holdings (its 26th-largest position).
• Essential Utilities beat Q4 expectations with EPS of $0.47 vs. consensus $0.36 and revenue of $699.1 million, up 15.7% year-over-year (consensus revenue $611.6 million).
• The company declared a quarterly dividend of $0.3426 (annualized $1.37) for a yield of 3.6%, with an ex-dividend date of May 12 and payment on June 1.

Christine Messmer PC bought a new position in Essential Utilities Inc. (NYSE:WTRG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,494 shares of the company's stock, valued at approximately $1,246,000. Essential Utilities makes up 0.8% of Christine Messmer PC's holdings, making the stock its 26th largest position.

A number of other hedge funds also recently made changes to their positions in the company. RIA Advisory Group LLC purchased a new stake in shares of Essential Utilities in the fourth quarter worth about $344,000. Benjamin Edwards Inc. purchased a new stake in shares of Essential Utilities in the fourth quarter worth about $203,000. Fifth Third Bancorp lifted its position in shares of Essential Utilities by 43.2% in the fourth quarter. Fifth Third Bancorp now owns 4,469 shares of the company's stock worth $171,000 after buying an additional 1,349 shares in the last quarter. Danske Bank A S lifted its position in shares of Essential Utilities by 10.6% in the fourth quarter. Danske Bank A S now owns 103,209 shares of the company's stock worth $3,959,000 after buying an additional 9,900 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Essential Utilities by 7.2% in the fourth quarter. New York State Teachers Retirement System now owns 296,631 shares of the company's stock worth $11,379,000 after buying an additional 19,913 shares in the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 0.3%

Shares of WTRG stock opened at $37.93 on Tuesday. Essential Utilities Inc. has a 1 year low of $36.32 and a 1 year high of $42.37. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.80 and a quick ratio of 0.65. The stock's 50 day simple moving average is $40.04 and its two-hundred day simple moving average is $39.38. The company has a market cap of $10.74 billion, a PE ratio of 17.16 and a beta of 0.67.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.11. Essential Utilities had a return on equity of 9.18% and a net margin of 24.91%.The business had revenue of $699.11 million for the quarter, compared to the consensus estimate of $611.60 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company's quarterly revenue was up 15.7% compared to the same quarter last year. Research analysts predict that Essential Utilities Inc. will post 2.25 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 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.3426 per share. The ex-dividend date is Tuesday, May 12th. This represents a $1.37 dividend on an annualized basis and a yield of 3.6%. Essential Utilities's dividend payout ratio is 61.99%.

Analysts Set New Price Targets

Separately, Argus upgraded Essential Utilities to a "strong-buy" rating in a research report on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Essential Utilities currently has a consensus rating of "Hold" and a consensus target price of $43.20.

About Essential Utilities

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.

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