Private Advisor Group LLC Has $2.82 Million Position in Essential Utilities Inc. (NYSE:WTRG)

Private Advisor Group LLC decreased its holdings in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 16.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 71,401 shares of the company's stock after selling 14,195 shares during the period. Private Advisor Group LLC's holdings in Essential Utilities were worth $2,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Essential Utilities during the fourth quarter worth $638,000. Virtu Financial LLC purchased a new stake in shares of Essential Utilities during the fourth quarter worth $245,000. American Century Companies Inc. purchased a new stake in shares of Essential Utilities during the fourth quarter worth $4,415,000. Sei Investments Co. grew its holdings in shares of Essential Utilities by 163.2% during the fourth 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 grew its holdings in shares of Essential Utilities by 3.9% during the fourth 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. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

NYSE WTRG traded down $0.10 during trading hours on Friday, hitting $37.07. The company had a trading volume of 1,202,245 shares, compared to its average volume of 1,682,345. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. 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 business has a fifty day simple moving average of $37.78 and a 200-day simple moving average of $37.79. The firm has a market cap of $10.39 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 3.47 and a beta of 0.79.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.23. The company had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The company's quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. Equities analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WTRG shares. Robert W. Baird reduced their price target on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen cut shares of Essential Utilities from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.