Principal Financial Group Inc. Sells 19,179 Shares of Essential Utilities Inc. (NYSE:WTRG)

Principal Financial Group Inc. cut its position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 706,302 shares of the company's stock after selling 19,179 shares during the quarter. Principal Financial Group Inc. owned 0.26% of Essential Utilities worth $27,920,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC grew its holdings in Essential Utilities by 8.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 25,255 shares of the company's stock worth $998,000 after acquiring an additional 1,867 shares during the period. Brighton Jones LLC acquired a new position in Essential Utilities during the fourth quarter worth about $638,000. Oppenheimer & Co. Inc. grew its holdings in Essential Utilities by 14.2% during the first quarter. Oppenheimer & Co. Inc. now owns 9,775 shares of the company's stock worth $386,000 after acquiring an additional 1,218 shares during the period. 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. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Essential Utilities by 13.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 92,272 shares of the company's stock worth $3,648,000 after acquiring an additional 10,718 shares during the period. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Up 0.6%

NYSE WTRG traded up $0.24 during trading on Wednesday, reaching $37.33. 1,350,585 shares of the company's stock were exchanged, compared to its average volume of 1,690,112. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.16. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The company's fifty day simple moving average is $38.36 and its 200-day simple moving average is $37.70. The firm has a market capitalization of $10.47 billion, a PE ratio of 16.74, a P/E/G ratio of 3.40 and a beta of 0.79.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.80 by $0.23. The business had revenue of $783.63 million during the quarter, compared to analysts' expectations of $713.80 million. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The firm's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.97 EPS. Sell-side analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. 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. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.