Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,346,671 shares of the company's stock after buying an additional 192,456 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.85% of Essential Utilities worth $85,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Essential Utilities in the 4th quarter worth approximately $102,600,000. Vanguard Group Inc. lifted its position in Essential Utilities by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company's stock valued at $1,091,820,000 after buying an additional 2,245,256 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Essential Utilities by 31.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company's stock valued at $244,296,000 after buying an additional 1,597,672 shares in the last quarter. Cohen & Steers Inc. purchased a new stake in shares of Essential Utilities in the 4th quarter worth about $52,355,000. Finally, Ensign Peak Advisors Inc lifted its position in Essential Utilities by 74.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,593,053 shares of the company's stock valued at $57,860,000 after acquiring an additional 680,760 shares during the period. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Price Performance

Shares of WTRG traded down $0.12 during mid-day trading on Friday, hitting $38.29. 301,628 shares of the stock were exchanged, compared to its average volume of 1,467,489. The firm has a 50-day moving average of $39.42 and a two-hundred day moving average of $37.97. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market cap of $10.73 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its 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 firm had revenue of $783.63 million for the quarter, compared to analysts' expectations of $713.80 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company's quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. On average, equities analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on WTRG shares. Robert W. Baird reduced their price objective on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company raised their price target on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Wall Street Zen raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. Finally, Evercore ISI raised their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. 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 has an average rating of "Moderate Buy" and an average target price of $43.50.

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.