New York State Teachers Retirement System Sells 32,200 Shares of Essential Utilities Inc. (NYSE:WTRG)

New York State Teachers Retirement System reduced its stake in Essential Utilities Inc. (NYSE:WTRG - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 251,591 shares of the company's stock after selling 32,200 shares during the period. New York State Teachers Retirement System owned 0.09% of Essential Utilities worth $9,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities during the fourth quarter worth about $26,000. American National Bank & Trust bought a new stake in shares of Essential Utilities during the first quarter worth about $35,000. CX Institutional bought a new stake in shares of Essential Utilities during the first quarter worth about $42,000. IFP Advisors Inc increased its position in shares of Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after acquiring an additional 473 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of Essential Utilities during the fourth quarter worth about $41,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Performance

WTRG traded up $0.08 during midday trading on Monday, reaching $36.86. The company had a trading volume of 2,203,831 shares, compared to its average volume of 1,544,605. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.65. The stock has a market cap of $10.33 billion, a PE ratio of 16.53, a P/E/G ratio of 3.39 and a beta of 0.79. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The business has a 50-day moving average price of $38.43 and a two-hundred day moving average price of $37.71.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates 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 27.17% and a return on equity of 9.81%. The company's quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. On average, sell-side analysts expect that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WTRG has been the topic of several analyst reports. Robert W. Baird cut 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. Wall Street Zen upgraded 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.