Sumitomo Mitsui Trust Group Inc. Purchases 29,708 Shares of Essential Utilities Inc. (NYSE:WTRG)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Essential Utilities Inc. (NYSE:WTRG - Free Report) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 536,718 shares of the company's stock after acquiring an additional 29,708 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Essential Utilities worth $21,216,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WTRG. Brighton Jones LLC acquired a new stake in Essential Utilities during the 4th quarter valued at approximately $638,000. IFP Advisors Inc increased its position in shares of Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after purchasing an additional 473 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Essential Utilities during the 4th quarter valued at $1,621,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Essential Utilities by 0.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 38,652 shares of the company's stock worth $1,404,000 after acquiring an additional 356 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Essential Utilities by 12.5% during the 4th quarter. State of Michigan Retirement System now owns 67,271 shares of the company's stock worth $2,443,000 after acquiring an additional 7,500 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Trading Up 0.2%

Shares of NYSE:WTRG traded up $0.08 during mid-day trading on Monday, reaching $36.86. 2,203,831 shares of the company's stock were exchanged, compared to its average volume of 1,544,605. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.39 and a beta of 0.79. The business's fifty day moving average price is $38.43 and its 200-day moving average price is $37.71. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.57 and a current ratio of 0.65. Essential Utilities Inc. has a twelve month low of $33.18 and a twelve month high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data 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 net margin of 27.17% and a return on equity of 9.81%. The firm had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business's quarterly revenue was up 28.0% compared to the same quarter last year. On average, research analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. Robert W. Baird reduced their price objective 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Essential Utilities has a consensus rating of "Moderate Buy" and a consensus 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.