Essential Utilities, Inc. (NYSE:WTRG) Holdings Decreased by Bank of America Corp DE

Bank of America Corp DE trimmed its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 26.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 747,537 shares of the company's stock after selling 272,858 shares during the quarter. Bank of America Corp DE owned approximately 0.27% of Essential Utilities worth $27,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at approximately $26,000. IFP Advisors Inc increased its holdings in shares of 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 acquiring an additional 473 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at approximately $45,000. Bessemer Group Inc. increased its holdings in shares of Essential Utilities by 98.9% in the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock valued at $56,000 after acquiring an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at approximately $60,000. 74.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WTRG shares. Wells Fargo & Company boosted their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. StockNews.com upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. Evercore ISI boosted their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, Robert W. Baird reduced their price objective on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Essential Utilities Stock Up 1.9%

WTRG opened at $38.88 on Friday. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The stock's fifty day moving average is $39.47 and its 200-day moving average is $37.99. The company has a market capitalization of $10.71 billion, a PE ratio of 19.44, a P/E/G ratio of 2.57 and a beta of 0.85.

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 analysts' consensus estimates of $0.80 by $0.23. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $783.63 million for the quarter, compared to the consensus estimate of $713.80 million. During the same quarter in the previous year, the business earned $0.97 EPS. The company's quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 58.30%.

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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