Nuveen Asset Management LLC Has $21.62 Million Stake in Essential Utilities, Inc. (NYSE:WTRG)

Nuveen Asset Management LLC trimmed its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 595,235 shares of the company's stock after selling 58,173 shares during the period. Nuveen Asset Management LLC owned approximately 0.22% of Essential Utilities worth $21,619,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Synergy Asset Management LLC grew its holdings in Essential Utilities by 92.8% during the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock worth $5,529,000 after acquiring an additional 71,222 shares during the period. Brighton Jones LLC acquired a new position in Essential Utilities during the fourth quarter worth about $638,000. RWC Asset Management LLP acquired a new position in Essential Utilities during the fourth quarter worth about $2,119,000. Atria Wealth Solutions Inc. acquired a new position in Essential Utilities during the fourth quarter worth about $504,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Essential Utilities by 10.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,071,868 shares of the company's stock worth $75,250,000 after acquiring an additional 199,936 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WTRG shares. Robert W. Baird lowered their target price on 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 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. Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company lifted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Finally, Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities Stock Down 0.1%

NYSE:WTRG traded down $0.05 on Tuesday, hitting $38.81. 1,365,428 shares of the company's stock traded hands, compared to its average volume of 1,468,627. 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, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The firm has a 50-day moving average price of $39.42 and a 200-day moving average price of $37.97. The company has a market cap of $10.88 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85.

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 the consensus estimate of $0.80 by $0.23. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $783.63 million for the quarter, compared to analysts' expectations of $713.80 million. During the same quarter in the previous year, the business posted $0.97 EPS. The business's revenue for the quarter was up 28.0% on a year-over-year basis. Equities analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal 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.