Deutsche Bank AG Acquires 11,607 Shares of Essential Utilities Inc. (NYSE:WTRG)

Deutsche Bank AG grew its holdings in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 713,737 shares of the company's stock after purchasing an additional 11,607 shares during the quarter. Deutsche Bank AG owned about 0.26% of Essential Utilities worth $28,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WTRG. Ensign Peak Advisors Inc raised its holdings in Essential Utilities by 74.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 1,593,053 shares of the company's stock valued at $57,860,000 after buying an additional 680,760 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Essential Utilities by 22.0% during the 4th quarter. Northern Trust Corp now owns 3,331,090 shares of the company's stock valued at $120,985,000 after acquiring an additional 601,026 shares during the last quarter. Raiffeisen Bank International AG bought a new position in shares of Essential Utilities in the 4th quarter valued at approximately $20,436,000. Boston Trust Walden Corp raised its stake in shares of Essential Utilities by 16.5% in the 1st quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company's stock valued at $97,908,000 after acquiring an additional 349,904 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Essential Utilities in the 1st quarter worth approximately $10,030,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Performance

WTRG opened at $38.78 on Wednesday. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.65. The firm has a market capitalization of $10.88 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 3.58 and a beta of 0.78. The stock's 50 day moving average price is $37.55 and its two-hundred day moving average price is $38.12. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.09. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The business had revenue of $514.91 million for the quarter, compared to the consensus estimate of $462.70 million. During the same quarter last year, the company posted $0.28 earnings per share. Essential Utilities's quarterly revenue was up 18.5% on a year-over-year basis. On average, equities analysts forecast that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a $0.3426 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $1.37 annualized dividend and a yield of 3.5%. This is a positive change from Essential Utilities's previous quarterly dividend of $0.33. Essential Utilities's dividend payout ratio (DPR) is 55.79%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WTRG. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird raised their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.67.

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.

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