Essential Utilities Inc. (NYSE:WTRG) Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,300 shares of the company's stock after buying an additional 15,100 shares during the period. KLP Kapitalforvaltning AS owned 0.09% of Essential Utilities worth $9,460,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Essential Utilities during the 4th quarter worth approximately $638,000. Virtu Financial LLC purchased a new position in shares of Essential Utilities during the 4th quarter worth approximately $245,000. American Century Companies Inc. purchased a new position in shares of Essential Utilities during the 4th quarter worth approximately $4,415,000. Sei Investments Co. raised its stake in shares of Essential Utilities by 163.2% during the 4th quarter. Sei Investments Co. now owns 172,156 shares of the company's stock worth $6,253,000 after buying an additional 106,735 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of Essential Utilities by 3.9% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Price Performance

NYSE WTRG traded down $0.10 during mid-day trading on Friday, hitting $37.07. The stock had a trading volume of 1,202,245 shares, compared to its average volume of 1,687,390. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The company has a 50 day simple moving average of $37.74 and a 200 day simple moving average of $37.81. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 3.42 and a beta of 0.79. Essential Utilities Inc. has a 52-week low of $33.18 and a 52-week high of $41.78.

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 company had revenue of $783.63 million during the quarter, compared to the consensus estimate of $713.80 million. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. Essential Utilities's revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. Equities analysts forecast that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WTRG shares. Robert W. Baird cut their target price on 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 downgraded Essential Utilities from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Essential Utilities presently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

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.