Essential Utilities Inc. (NYSE:WTRG) Shares Acquired by LPL Financial LLC

Key Points

• LPL Financial LLC has increased its stake in Essential Utilities Inc. by 2.4% during the first quarter, owning 295,308 shares valued at approximately $11.67 million.
• Essential Utilities recently reported earnings of $0.38 EPS for the quarter, exceeding analysts' expectations, and announced a quarterly dividend increase to $0.3426 per share, reflecting an annualized yield of 3.6%.
• Analysts have set a new average target price of $43.67 for Essential Utilities, with the stock currently rated as a "Moderate Buy" by most, following recent updates from Robert W. Baird.

LPL Financial LLC lifted its stake in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,308 shares of the company's stock after purchasing an additional 6,839 shares during the quarter. LPL Financial LLC owned about 0.11% of Essential Utilities worth $11,674,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. raised its position in Essential Utilities by 6.8% in the fourth quarter. Invesco Ltd. now owns 3,690,116 shares of the company's stock worth $134,025,000 after acquiring an additional 236,250 shares in the last quarter. Northern Trust Corp raised its position in Essential Utilities by 22.0% in the fourth quarter. Northern Trust Corp now owns 3,331,090 shares of the company's stock worth $120,985,000 after acquiring an additional 601,026 shares in the last quarter. Boston Trust Walden Corp raised its position in Essential Utilities by 16.5% in the first quarter. Boston Trust Walden Corp now owns 2,476,811 shares of the company's stock worth $97,908,000 after acquiring an additional 349,904 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Essential Utilities by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,671 shares of the company's stock worth $85,231,000 after acquiring an additional 192,456 shares in the last quarter. Finally, Tandem Investment Advisors Inc. raised its position in Essential Utilities by 0.9% in the first quarter. Tandem Investment Advisors Inc. now owns 2,045,060 shares of the company's stock worth $80,841,000 after acquiring an additional 18,353 shares in the last quarter. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Price Performance

Shares of WTRG stock traded down $0.31 during mid-day trading on Tuesday, reaching $38.37. The stock had a trading volume of 421,522 shares, compared to its average volume of 1,709,453. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13. The company has a market cap of $10.76 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 3.56 and a beta of 0.78. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.65. The business has a 50-day simple moving average of $37.55 and a 200 day simple moving average of $38.12.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.09. The business had revenue of $514.91 million for the quarter, compared to analyst estimates of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%. The business's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. On average, sell-side analysts anticipate that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.3426 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This is an increase from Essential Utilities's previous quarterly dividend of $0.33. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.6%. Essential Utilities's dividend payout ratio is 55.79%.

Analyst Upgrades and Downgrades

WTRG has been the subject of several research analyst reports. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Robert W. Baird raised their price target on Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Essential Utilities has an average rating of "Moderate Buy" and a consensus target price of $43.67.

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.