Essential Utilities Inc. (NYSE:WTRG) Shares Bought by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. raised its holdings in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,045,060 shares of the company's stock after buying an additional 18,353 shares during the period. Essential Utilities makes up approximately 2.8% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 19th largest position. Tandem Investment Advisors Inc. owned 0.74% of Essential Utilities worth $80,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC purchased a new stake in shares of Essential Utilities during the 4th quarter worth $26,000. Valley National Advisers Inc. purchased a new stake in shares of Essential Utilities during the 1st quarter worth $33,000. American National Bank & Trust purchased a new stake in shares of Essential Utilities during the 1st quarter worth $35,000. CX Institutional purchased a new stake in shares of Essential Utilities during the 1st quarter worth $42,000. Finally, IFP Advisors Inc lifted its position 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 worth $40,000 after purchasing an additional 473 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Performance

WTRG traded down $0.29 on Friday, reaching $36.82. The company had a trading volume of 1,735,877 shares, compared to its average volume of 1,541,958. Essential Utilities Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The stock has a market capitalization of $10.32 billion, a PE ratio of 16.51, a P/E/G ratio of 3.39 and a beta of 0.79. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a 50-day moving average price of $38.50 and a 200-day moving average price of $37.70.

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, beating analysts' consensus estimates of $0.80 by $0.23. The company had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. Essential Utilities had a net margin of 27.17% and a return on equity of 9.81%. Essential Utilities's quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share. As a group, research analysts forecast that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Essential Utilities Company 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.