Synergy Asset Management LLC Sells 19,287 Shares of Essential Utilities Inc. (NYSE:WTRG)

Synergy Asset Management LLC lowered its holdings in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,722 shares of the company's stock after selling 19,287 shares during the period. Synergy Asset Management LLC's holdings in Essential Utilities were worth $5,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities during the 4th quarter valued at $26,000. American National Bank & Trust bought a new stake in shares of Essential Utilities during the 1st quarter valued at $35,000. IFP Advisors Inc raised its stake in shares of Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after purchasing an additional 473 shares during the period. Orion Capital Management LLC bought a new stake in shares of Essential Utilities during the 4th quarter valued at $41,000. Finally, CX Institutional bought a new stake in shares of Essential Utilities during the 1st quarter valued at $42,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Analysts Set New Price Targets

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

Essential Utilities Stock Up 1.8%

Shares of WTRG traded up $0.69 on Monday, reaching $38.03. The stock had a trading volume of 1,254,393 shares, compared to its average volume of 1,519,206. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 3.44 and a beta of 0.81. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.65. The company has a 50-day simple moving average of $39.13 and a 200-day simple moving average of $37.77. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.23. The company had revenue of $783.63 million during the quarter, compared to analysts' expectations 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 for the quarter was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Sell-side analysts predict 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.