Secure Asset Management LLC Purchases 7,130 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Secure Asset Management LLC boosted its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 15.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,462 shares of the company's stock after acquiring an additional 7,130 shares during the quarter. Secure Asset Management LLC's holdings in Essential Utilities were worth $2,074,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. VSM Wealth Advisory LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth about $26,000. American National Bank & Trust purchased a new position in shares of Essential Utilities in the 1st quarter worth about $35,000. IFP Advisors Inc boosted 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 worth $40,000 after purchasing an additional 473 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth about $41,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth about $45,000. 74.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Essential Utilities Trading Up 0.8%

NYSE WTRG traded up $0.30 on Thursday, hitting $37.62. The company's stock had a trading volume of 1,876,293 shares, compared to its average volume of 1,494,626. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The company's 50-day simple moving average is $39.39 and its 200 day simple moving average is $37.96. The firm has a market cap of $10.55 billion, a P/E ratio of 18.81, a PEG ratio of 2.57 and a beta of 0.81.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data 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 7.89% and a net margin of 27.84%. The business had revenue of $783.63 million during the quarter, compared to analysts' expectations of $713.80 million. During the same quarter last year, the business posted $0.97 EPS. The business's revenue was up 28.0% on a year-over-year basis. Research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

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.