Jane Street Group LLC Cuts Stake in Essential Utilities, Inc. (NYSE:WTRG)

Jane Street Group LLC lessened its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 64.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,825 shares of the company's stock after selling 107,798 shares during the quarter. Jane Street Group LLC's holdings in Essential Utilities were worth $2,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. VSM Wealth Advisory LLC purchased a new position in shares of Essential Utilities in the fourth quarter valued at about $26,000. IFP Advisors Inc increased its stake in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after acquiring an additional 473 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Essential Utilities in the fourth quarter worth about $45,000. Bessemer Group Inc. raised its stake in Essential Utilities by 98.9% during the fourth quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock valued at $56,000 after buying an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in Essential Utilities in the 4th quarter worth about $60,000. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Trading Down 1.3%

Shares of WTRG stock traded down $0.52 on Wednesday, hitting $38.80. 545,144 shares of the stock traded hands, compared to its average volume of 1,465,808. The firm's 50-day moving average price is $39.48 and its two-hundred day moving average price is $38.00. The stock has a market capitalization of $10.88 billion, a PE ratio of 19.40, a PEG ratio of 2.57 and a beta of 0.85. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. 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 issued its quarterly earnings data 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 return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $783.63 million during the quarter, compared to analyst estimates of $713.80 million. During the same period in the prior year, the business posted $0.97 earnings per share. The firm's revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is presently 58.30%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Robert W. Baird decreased their price objective on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. StockNews.com 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 Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.