Gotham Asset Management LLC Decreases Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Gotham Asset Management LLC cut its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,920 shares of the company's stock after selling 16,018 shares during the period. Gotham Asset Management LLC owned about 0.06% of Essential Utilities worth $6,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its position in Essential Utilities by 1.2% during the fourth quarter. Blair William & Co. IL now owns 24,652 shares of the company's stock valued at $895,000 after purchasing an additional 285 shares during the period. Nations Financial Group Inc. IA ADV lifted its position in Essential Utilities by 4.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company's stock valued at $230,000 after purchasing an additional 289 shares during the period. Louisiana State Employees Retirement System increased its holdings in Essential Utilities by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company's stock valued at $2,546,000 after buying an additional 300 shares in the last quarter. Rothschild Investment LLC increased its holdings in Essential Utilities by 1.7% in the fourth quarter. Rothschild Investment LLC now owns 19,527 shares of the company's stock valued at $709,000 after buying an additional 317 shares in the last quarter. Finally, First Affirmative Financial Network increased its holdings in Essential Utilities by 3.6% in the fourth quarter. First Affirmative Financial Network now owns 9,994 shares of the company's stock valued at $363,000 after buying an additional 351 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Shares of WTRG traded up $0.72 during mid-day trading on Friday, hitting $38.88. 1,308,447 shares of the company were exchanged, compared to its average volume of 1,469,195. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. 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 50 day moving average of $39.47 and a 200-day moving average of $38.00. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85.

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

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is 58.30%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective for the company in a report on Tuesday, January 28th. Robert W. Baird decreased their target price on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating on the stock in a research report on Tuesday. StockNews.com upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Wells Fargo & Company increased their target price on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Finally, Evercore ISI increased their target price on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.