34,500 Shares in Essential Utilities Inc. (NYSE:WTRG) Bought by Covea Finance

Covea Finance acquired a new stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,500 shares of the company's stock, valued at approximately $1,364,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. VSM Wealth Advisory LLC acquired a new position in shares of Essential Utilities during the fourth quarter worth $26,000. American National Bank & Trust acquired a new position in Essential Utilities in the 1st quarter worth $35,000. IFP Advisors Inc boosted its position in Essential Utilities by 75.0% in 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. Orion Capital Management LLC acquired a new stake in shares of Essential Utilities during the fourth quarter valued at about $41,000. Finally, CX Institutional purchased a new stake in shares of Essential Utilities during the first quarter worth about $42,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Trading Down 0.2%

NYSE:WTRG opened at $37.33 on Friday. The company has a market cap of $10.46 billion, a PE ratio of 16.74, a P/E/G ratio of 3.44 and a beta of 0.81. The business's 50 day moving average is $39.13 and its two-hundred day moving average is $37.78. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.23. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The firm had revenue of $783.63 million for the quarter, compared to analysts' expectations of $713.80 million. During the same period last year, the business posted $0.97 earnings per share. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. On average, analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI increased their price target on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Robert W. Baird dropped their price target on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company upped 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Essential Utilities currently 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.

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