Northern Trust Corp Raises Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Northern Trust Corp lifted its stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 22.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,331,090 shares of the company's stock after purchasing an additional 601,026 shares during the period. Northern Trust Corp owned 1.21% of Essential Utilities worth $120,985,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in Essential Utilities in the fourth quarter worth $2,405,000. Coldstream Capital Management Inc. boosted its stake in Essential Utilities by 3.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 59,608 shares of the company's stock worth $2,165,000 after acquiring an additional 1,982 shares in the last quarter. Voya Investment Management LLC grew its holdings in Essential Utilities by 80.8% in the fourth quarter. Voya Investment Management LLC now owns 59,528 shares of the company's stock worth $2,162,000 after purchasing an additional 26,611 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of Essential Utilities by 11.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,594 shares of the company's stock valued at $240,000 after purchasing an additional 696 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Essential Utilities by 9.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 173,164 shares of the company's stock worth $6,290,000 after purchasing an additional 15,131 shares in the last quarter. Institutional investors own 74.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. UBS Group decreased their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. Evercore ISI upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities Stock Performance

Essential Utilities stock traded up $0.01 during midday trading on Friday, hitting $40.61. The stock had a trading volume of 365,095 shares, compared to its average volume of 1,450,448. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a market capitalization of $11.19 billion, a PE ratio of 20.31, a P/E/G ratio of 2.57 and a beta of 0.85. The firm's fifty day moving average is $39.56 and its two-hundred day moving average is $38.03. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million for 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, research analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.21%. Essential Utilities's payout ratio is 59.91%.

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.