Allianz Asset Management GmbH Sells 306,968 Shares of Essential Utilities Inc. (NYSE:WTRG)

Allianz Asset Management GmbH reduced its position in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 15.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,628,850 shares of the company's stock after selling 306,968 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.59% of Essential Utilities worth $64,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in shares of Essential Utilities in the first quarter worth $1,507,000. Wealthcare Advisory Partners LLC raised its position in Essential Utilities by 8.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock valued at $998,000 after purchasing an additional 1,867 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Essential Utilities in the fourth quarter worth about $638,000. Oppenheimer & Co. Inc. increased its holdings in shares of Essential Utilities by 14.2% in the first quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock worth $386,000 after buying an additional 1,218 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Essential Utilities by 13.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 92,272 shares of the company's stock valued at $3,648,000 after purchasing an additional 10,718 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on WTRG shares. Robert W. Baird reduced their price target on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Wall Street Zen cut Essential Utilities from a "hold" rating to a "sell" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $43.50.

Essential Utilities Stock Performance

WTRG traded up $0.55 during mid-day trading on Tuesday, reaching $38.02. 1,506,148 shares of the company traded hands, compared to its average volume of 1,555,070. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $10.66 billion, a P/E ratio of 16.80, a P/E/G ratio of 3.45 and a beta of 0.79. Essential Utilities Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company's fifty day moving average price is $37.80 and its 200-day moving average price is $37.77.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate 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 return on equity of 9.81% and a net margin of 27.17%. Essential Utilities's revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. On average, sell-side analysts expect that Essential Utilities Inc. will post 1.99 EPS for the current year.

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.