Foundations Investment Advisors LLC Buys 8,739 Shares of Essential Utilities Inc. (NYSE:WTRG)

Key Points

• Foundations Investment Advisors LLC increased its stake in Essential Utilities Inc. by 96.1%, acquiring an additional 8,739 shares, bringing its total holdings to 17,831 shares valued at approximately $705,000.
• Essential Utilities has announced a quarterly dividend of $0.3426, marking an increase from its previous dividend of $0.33, with a dividend yield of 3.7%.
• Analyst ratings for Essential Utilities include a current consensus of "Moderate Buy" with an average target price of $43.50, despite a recent price target reduction from Robert W. Baird to $46.00.

Foundations Investment Advisors LLC grew its stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 96.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,831 shares of the company's stock after acquiring an additional 8,739 shares during the period. Foundations Investment Advisors LLC's holdings in Essential Utilities were worth $705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of WTRG. Brighton Jones LLC bought a new position in shares of Essential Utilities in the fourth quarter worth about $638,000. American Century Companies Inc. bought a new stake in shares of Essential Utilities during the fourth quarter worth approximately $4,415,000. LPL Financial LLC raised its stake in shares of Essential Utilities by 3.9% during the fourth quarter. LPL Financial LLC now owns 288,469 shares of the company's stock worth $10,477,000 after buying an additional 10,941 shares during the last quarter. Blair William & Co. IL raised its stake in shares of 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 buying an additional 285 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Essential Utilities during the fourth quarter worth approximately $45,000. 74.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WTRG shares. Robert W. Baird dropped their price target on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Essential Utilities Stock Down 0.3%

Shares of NYSE:WTRG opened at $36.82 on Friday. Essential Utilities Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. 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 market capitalization of $10.32 billion, a PE ratio of 16.51, a PEG ratio of 3.39 and a beta of 0.79. The company has a 50 day moving average price of $37.58 and a two-hundred day moving average price of $37.87.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The company had revenue of $514.91 million during the quarter, compared to analysts' expectations of $462.70 million. Essential Utilities had a net margin of 27.17% and a return on equity of 9.81%. The business's quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Analysts forecast that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.3426 dividend. This represents a $1.37 annualized dividend and a dividend yield of 3.7%. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 12th. Essential Utilities's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding WTRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essential Utilities Inc. (NYSE:WTRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.