CenterBook Partners LP Lowers Holdings in Essential Utilities Inc. (NYSE:WTRG)

CenterBook Partners LP reduced its position in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 39.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,580 shares of the company's stock after selling 7,449 shares during the period. CenterBook Partners LP's holdings in Essential Utilities were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WTRG. Brighton Jones LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth $638,000. Proficio Capital Partners LLC purchased a new position in Essential Utilities during the fourth quarter valued at $1,621,000. Raymond James Financial Inc. purchased a new position in Essential Utilities during the fourth quarter valued at $7,383,000. HighTower Advisors LLC lifted its position in Essential Utilities by 3.9% during the fourth quarter. HighTower Advisors LLC now owns 101,573 shares of the company's stock valued at $3,689,000 after purchasing an additional 3,859 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Essential Utilities by 38.9% during the fourth quarter. Natixis Advisors LLC now owns 92,228 shares of the company's stock valued at $3,350,000 after purchasing an additional 25,846 shares in the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Essential Utilities Price Performance

Shares of Essential Utilities stock traded up $0.13 during trading hours on Friday, hitting $37.42. The company's stock had a trading volume of 2,627,317 shares, compared to its average volume of 1,553,090. The business has a 50 day moving average price of $37.80 and a two-hundred day moving average price of $37.75. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The company has a market cap of $10.49 billion, a PE ratio of 16.78, a PEG ratio of 3.43 and a beta of 0.79. 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 (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.03 EPS for the quarter, beating 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 business had revenue of $783.63 million for the quarter, compared to the consensus estimate of $713.80 million. During the same period in the previous year, the business earned $0.97 earnings per share. The business's revenue was up 28.0% on a year-over-year basis. Analysts expect that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal 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.