Secure Asset Management LLC Makes New $1.31 Million Investment in Essential Utilities, Inc. (NYSE:WTRG)

Secure Asset Management LLC bought a new stake in Essential Utilities, Inc. (NYSE:WTRG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 34,942 shares of the company's stock, valued at approximately $1,305,000.

Other hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in Essential Utilities by 604.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company's stock worth $27,000 after buying an additional 610 shares during the period. PSI Advisors LLC purchased a new stake in Essential Utilities during the 3rd quarter worth $31,000. IFP Advisors Inc increased its stake in Essential Utilities by 112.6% during the 2nd quarter. IFP Advisors Inc now owns 863 shares of the company's stock worth $34,000 after buying an additional 457 shares during the period. Quent Capital LLC increased its stake in Essential Utilities by 155.4% during the 3rd quarter. Quent Capital LLC now owns 1,042 shares of the company's stock worth $36,000 after buying an additional 634 shares during the period. Finally, Resources Management Corp CT ADV increased its position in shares of Essential Utilities by 250.0% in the 3rd quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company's stock worth $36,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company's stock.

Essential Utilities Stock Performance

Shares of NYSE:WTRG traded up $0.25 during trading on Friday, reaching $37.05. 1,283,866 shares of the company's stock traded hands, compared to its average volume of 1,815,454. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.62 and a quick ratio of 0.48. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $45.29. The company has a 50 day moving average of $35.89 and a 200-day moving average of $35.70. The stock has a market capitalization of $10.13 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 3.34 and a beta of 0.81.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.01. Essential Utilities had a net margin of 24.26% and a return on equity of 8.68%. The business had revenue of $479.40 million during the quarter, compared to the consensus estimate of $708.50 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company's revenue for the quarter was down 32.0% compared to the same quarter last year. On average, equities analysts expect that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.3071 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.32%. This is a positive change from Essential Utilities's previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. Essential Utilities's payout ratio is presently 66.13%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI dropped their target price on shares of Essential Utilities from $51.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

About Essential Utilities

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.