Aurora Investment Counsel Buys Shares of 69,414 Essential Utilities Inc. (NYSE:WTRG)

Aurora Investment Counsel bought a new position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 69,414 shares of the company's stock, valued at approximately $2,744,000. Essential Utilities accounts for approximately 1.5% of Aurora Investment Counsel's holdings, making the stock its 9th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in WTRG. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities in the 4th quarter worth $26,000. Valley National Advisers Inc. purchased a new position in shares of Essential Utilities during the 1st quarter worth $33,000. American National Bank & Trust purchased a new position in shares of Essential Utilities during the 1st quarter worth $35,000. Orion Capital Management LLC purchased a new position in shares of Essential Utilities during the 4th quarter worth $41,000. Finally, CX Institutional purchased a new position in shares of Essential Utilities during the 1st quarter worth $42,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WTRG. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. Robert W. Baird lowered their target price on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Essential Utilities Stock Down 0.6%

Shares of WTRG traded down $0.22 during midday trading on Wednesday, hitting $37.25. The company had a trading volume of 1,847,752 shares, compared to its average volume of 1,551,866. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.65. Essential Utilities Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The firm has a market capitalization of $10.44 billion, a P/E ratio of 16.70, a P/E/G ratio of 3.48 and a beta of 0.79. The company's 50-day simple moving average is $38.01 and its 200-day simple moving average is $37.74.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.80 by $0.23. The company had revenue of $783.63 million for 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%. The firm's revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. As a group, sell-side analysts expect that Essential Utilities Inc. will post 1.99 EPS for the current year.

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.