Investors Research Corp Buys New Shares in Essential Utilities, Inc. (NYSE:WTRG)

Investors Research Corp bought a new position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 35,350 shares of the company's stock, valued at approximately $1,397,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities in the 4th quarter worth approximately $26,000. IFP Advisors Inc raised 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 during the period. Orion Capital Management LLC bought a new stake in shares of Essential Utilities in the 4th quarter worth approximately $41,000. New Age Alpha Advisors LLC bought a new stake in shares of Essential Utilities in the 4th quarter worth approximately $45,000. Finally, Siemens Fonds Invest GmbH bought a new stake in shares of Essential Utilities in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Analysts Set New Price Targets

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

Essential Utilities Price Performance

Shares of Essential Utilities stock traded up $0.02 during trading on Monday, hitting $38.55. The stock had a trading volume of 1,105,114 shares, compared to its average volume of 1,478,492. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.57 and a beta of 0.85. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The business's 50-day moving average is $39.43 and its 200 day moving average is $37.96. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly 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. The firm had revenue of $783.63 million for the quarter, compared to analysts' expectations of $713.80 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business's quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

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.