Essential Utilities Inc. (NYSE:WTRG) Stock Position Lifted by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. raised its holdings in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,045,060 shares of the company's stock after purchasing an additional 18,353 shares during the period. Essential Utilities comprises approximately 2.8% of Tandem Investment Advisors Inc.'s holdings, making the stock its 19th largest holding. Tandem Investment Advisors Inc. owned about 0.74% of Essential Utilities worth $80,841,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Bfsg LLC raised its position in shares of Essential Utilities by 22.1% in the 1st quarter. Bfsg LLC now owns 1,453 shares of the company's stock valued at $57,000 after purchasing an additional 263 shares in the last quarter. Blair William & Co. IL lifted its stake in Essential Utilities by 1.2% during the fourth quarter. Blair William & Co. IL now owns 24,652 shares of the company's stock worth $895,000 after purchasing an additional 285 shares during the last quarter. Community Bank N.A. lifted its stake in Essential Utilities by 1.3% during the first quarter. Community Bank N.A. now owns 23,928 shares of the company's stock worth $946,000 after purchasing an additional 304 shares during the last quarter. Apella Capital LLC lifted its stake in Essential Utilities by 4.4% during the first quarter. Apella Capital LLC now owns 7,914 shares of the company's stock worth $299,000 after purchasing an additional 334 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Essential Utilities by 0.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 38,652 shares of the company's stock worth $1,404,000 after purchasing an additional 356 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

NYSE WTRG traded down $0.29 during trading hours on Friday, hitting $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 fifty-two week low of $33.18 and a fifty-two week high of $41.78. 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 business has a fifty day simple moving average of $38.50 and a 200-day simple moving average of $37.68. The firm has a market cap of $10.32 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.23. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The firm had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. During the same period last year, the company earned $0.97 earnings per share. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. Equities analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Robert W. Baird reduced their price objective 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. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities has an average rating of "Moderate Buy" and an average 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.