GAMMA Investing LLC Has $5.24 Million Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

GAMMA Investing LLC boosted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 2,579.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,505 shares of the company's stock after purchasing an additional 127,559 shares during the period. GAMMA Investing LLC's holdings in Essential Utilities were worth $5,238,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WTRG. VSM Wealth Advisory LLC acquired a new position in Essential Utilities during the fourth quarter valued at approximately $26,000. IFP Advisors Inc boosted its position in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after purchasing an additional 473 shares during the last quarter. Orion Capital Management LLC acquired a new position in Essential Utilities during the fourth quarter valued at approximately $41,000. New Age Alpha Advisors LLC acquired a new position in Essential Utilities during the fourth quarter valued at approximately $45,000. Finally, Siemens Fonds Invest GmbH acquired a new position in Essential Utilities during the fourth quarter valued at approximately $49,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Price Performance

NYSE WTRG traded down $0.36 during midday trading on Friday, hitting $38.00. The company had a trading volume of 1,679,649 shares, compared to its average volume of 1,504,190. The company has a market capitalization of $10.65 billion, a PE ratio of 19.00, a P/E/G ratio of 2.57 and a beta of 0.81. 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 firm has a 50-day moving average price of $39.22 and a 200-day moving average price of $37.89. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.23. The firm had revenue of $783.63 million during the quarter, compared to analysts' expectations of $713.80 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company's quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. As a group, analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI increased their price target on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Wells Fargo & Company upped their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Finally, Robert W. Baird dropped 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus 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.