SG Americas Securities LLC Takes Position in Essential Utilities, Inc. (NYSE:WTRG)

SG Americas Securities LLC purchased a new stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 253,737 shares of the company's stock, valued at approximately $10,030,000. SG Americas Securities LLC owned 0.09% of Essential Utilities at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities in the fourth quarter worth $26,000. American National Bank & Trust bought a new position in Essential Utilities during the first quarter valued at about $35,000. IFP Advisors Inc raised its position in Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after purchasing an additional 473 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Essential Utilities in the 4th quarter valued at $41,000. Finally, New Age Alpha Advisors LLC bought a new stake in Essential Utilities during the 4th quarter worth approximately $45,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WTRG shares. Robert W. Baird dropped their price objective on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Evercore ISI lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Essential Utilities Stock Performance

WTRG stock traded down $0.13 on Friday, hitting $38.23. The company had a trading volume of 770,113 shares, compared to its average volume of 1,496,485. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.57 and a beta of 0.81. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock's 50-day simple moving average is $39.21 and its 200 day simple moving average is $37.90. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.23. The firm had revenue of $783.63 million during the quarter, compared to analyst estimates of $713.80 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Essential Utilities's revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. As a group, equities research analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

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.