27,386 Shares in Essential Utilities Inc. $WTRG Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. has taken a new position in Essential Utilities Inc., acquiring 27,386 shares valued at approximately $1.08 million.
• Essential Utilities announced a quarterly dividend increase to $0.3426 per share, representing a 3.5% yield and a payout ratio of 58.80%.
• Several analysts have upgraded their ratings for Essential Utilities, with price targets ranging from $43.67 averaging to a boost from $46.00 to $47.00 by Robert W. Baird.

Fox Run Management L.L.C. acquired a new stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 27,386 shares of the company's stock, valued at approximately $1,083,000.

Other large investors also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in Essential Utilities in the first quarter valued at about $1,507,000. Wealthcare Advisory Partners LLC grew its position in Essential Utilities by 8.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock valued at $998,000 after acquiring an additional 1,867 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Essential Utilities by 14.2% in the first quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock valued at $386,000 after acquiring an additional 1,218 shares during the last quarter. Brighton Jones LLC bought a new position in Essential Utilities in the fourth quarter valued at about $638,000. Finally, Envestnet Asset Management Inc. grew its position in Essential Utilities by 3.9% in the first quarter. Envestnet Asset Management Inc. now owns 107,240 shares of the company's stock valued at $4,239,000 after acquiring an additional 4,015 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WTRG. Robert W. Baird boosted their price target on Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. UBS Group boosted their price target on Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Friday. Finally, Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $44.50.

Essential Utilities Trading Up 0.2%

Shares of WTRG stock traded up $0.08 during trading hours on Friday, reaching $39.15. The company's stock had a trading volume of 1,472,089 shares, compared to its average volume of 1,915,434. The stock has a market capitalization of $10.98 billion, a P/E ratio of 16.80, a P/E/G ratio of 3.60 and a beta of 0.78. Essential Utilities Inc. has a one year low of $33.18 and a one year high of $41.65. The firm's fifty day simple moving average is $37.65 and its 200 day simple moving average is $38.22. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 10.10% and a net margin of 27.62%. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. Equities research analysts expect that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.3426 per share. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, August 12th. Essential Utilities's dividend payout ratio is presently 58.80%.

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.