NewEdge Advisors LLC Has $1.06 Million Stake in Essential Utilities, Inc. (NYSE:WTRG)

NewEdge Advisors LLC raised its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 1,009.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,144 shares of the company's stock after acquiring an additional 26,517 shares during the quarter. NewEdge Advisors LLC's holdings in Essential Utilities were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Essential Utilities by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company's stock worth $1,091,820,000 after buying an additional 2,245,256 shares during the period. Nordea Investment Management AB grew its position in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock worth $247,134,000 after buying an additional 972,803 shares during the period. Pictet Asset Management Holding SA grew its position 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 worth $244,296,000 after buying an additional 1,597,672 shares during the period. Geode Capital Management LLC grew its position in shares of Essential Utilities by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,317,312 shares of the company's stock worth $156,526,000 after buying an additional 11,336 shares during the period. Finally, Invesco Ltd. grew its position in shares of Essential Utilities by 6.8% during the 4th quarter. Invesco Ltd. now owns 3,690,116 shares of the company's stock worth $134,025,000 after buying an additional 236,250 shares during the period. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Stock Up 0.7 %

WTRG stock traded up $0.30 during trading hours on Wednesday, reaching $41.07. 2,348,139 shares of the stock were exchanged, compared to its average volume of 1,464,045. The firm's 50-day moving average is $39.20 and its 200-day moving average is $38.01. The company has a market cap of $11.32 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78.

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

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's payout ratio is 59.91%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted 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 report on Thursday, February 27th. StockNews.com upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Jefferies Financial Group upgraded 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. UBS Group decreased their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI boosted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Essential Utilities presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities 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.