Continuum Advisory LLC Sells 8,712 Shares of Essential Utilities Inc. (NYSE:WTRG)

Continuum Advisory LLC reduced its position in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 33.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,320 shares of the company's stock after selling 8,712 shares during the quarter. Continuum Advisory LLC's holdings in Essential Utilities were worth $685,000 at the end of the most recent quarter.

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

Essential Utilities Price Performance

Shares of Essential Utilities stock traded down $0.02 during trading on Friday, reaching $36.95. The company's stock had a trading volume of 2,645,427 shares, compared to its average volume of 1,530,326. The stock has a 50-day moving average price of $38.92 and a two-hundred day moving average price of $37.75. The stock has a market capitalization of $10.36 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 3.41 and a beta of 0.81. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.16. Essential Utilities Inc. has a one year low of $33.18 and a one year high of $41.78.

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

Analyst Ratings Changes

WTRG has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Robert W. Baird cut their price target on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Evercore ISI upped their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Finally, Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Essential Utilities presently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

About Essential Utilities

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.