AEGON ASSET MANAGEMENT UK Plc Sells 223,990 Shares of Essential Utilities, Inc. (NYSE:WTRG)

AEGON ASSET MANAGEMENT UK Plc lowered its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 22.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 760,653 shares of the company's stock after selling 223,990 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.28% of Essential Utilities worth $30,053,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. VSM Wealth Advisory LLC bought a new position in Essential Utilities in the 4th quarter valued at $26,000. American National Bank & Trust acquired a new stake in shares of Essential Utilities in the first quarter valued at $35,000. IFP Advisors Inc increased its stake in shares of Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after buying an additional 473 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Essential Utilities in the fourth quarter valued at about $41,000. Finally, New Age Alpha Advisors LLC acquired a new position in Essential Utilities during the 4th quarter worth about $45,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Trading Up 0.8%

Shares of WTRG traded up $0.30 on Thursday, reaching $37.62. 1,876,281 shares of the company's stock were exchanged, compared to its average volume of 1,652,781. The business has a 50 day moving average price of $39.39 and a two-hundred day moving average price of $37.96. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The stock has a market capitalization of $10.55 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 2.57 and a beta of 0.81. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.23. The firm had revenue of $783.63 million during the quarter, compared to analyst estimates of $713.80 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. Research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WTRG has been the subject of several research reports. Evercore ISI raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Robert W. Baird dropped their price objective on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.