Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by LPL Financial LLC

LPL Financial LLC grew its holdings in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 288,469 shares of the company's stock after buying an additional 10,941 shares during the period. LPL Financial LLC owned 0.11% of Essential Utilities worth $10,477,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. VSM Wealth Advisory LLC acquired a new position in shares of Essential Utilities during the fourth quarter worth about $26,000. IFP Advisors Inc increased its position in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after purchasing an additional 473 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Essential Utilities during the 4th quarter worth approximately $60,000. Crews Bank & Trust acquired a new stake in shares of Essential Utilities in the 4th quarter valued at approximately $90,000. Finally, Quarry LP acquired a new stake in shares of Essential Utilities in the 3rd quarter valued at approximately $150,000. Institutional investors and hedge funds own 74.78% of the company's stock.

Analyst Ratings Changes

WTRG has been the topic of a number of recent analyst reports. StockNews.com raised Essential Utilities from a "sell" rating to a "hold" rating in a report on Friday. Wells Fargo & Company upped their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Evercore ISI raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a research report on Tuesday, January 28th. Finally, UBS Group reduced their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Essential Utilities Price Performance

Shares of WTRG traded down $0.82 during mid-day trading on Tuesday, reaching $37.51. 2,992,037 shares of the company's stock were exchanged, compared to its average volume of 1,480,700. The company has a 50-day simple moving average of $37.71 and a two-hundred day simple moving average of $37.82. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a market cap of $10.33 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.57 and a beta of 0.80. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. On average, sell-side analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio is currently 59.91%.

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.