24,414 Shares in Essential Utilities, Inc. (NYSE:WTRG) Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC purchased a new position in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,414 shares of the company's stock, valued at approximately $912,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WTRG. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Essential Utilities during the 4th quarter worth $52,964,000. Nuance Investments LLC purchased a new position in Essential Utilities during the 3rd quarter worth $21,570,000. Duff & Phelps Investment Management Co. increased its holdings in Essential Utilities by 11.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 3,069,377 shares of the company's stock worth $114,641,000 after purchasing an additional 313,277 shares during the period. Beck Bode LLC purchased a new position in Essential Utilities during the 3rd quarter worth $8,028,000. Finally, Assenagon Asset Management S.A. increased its holdings in Essential Utilities by 2,242.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 238,027 shares of the company's stock worth $8,171,000 after purchasing an additional 227,864 shares during the period. 74.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,023 shares of the business's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Robert A. Rubin sold 5,565 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares in the company, valued at $2,149,100.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Robert A. Rubin sold 2,023 shares of the company's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the sale, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Essential Utilities Stock Up 1.0 %

Shares of Essential Utilities stock traded up $0.37 during trading on Tuesday, reaching $38.67. The company's stock had a trading volume of 1,946,526 shares, compared to its average volume of 1,795,488. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.13. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 3.29 and a beta of 0.80. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $43.74. The company has a 50-day simple moving average of $36.02 and a two-hundred day simple moving average of $35.97.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. The firm had revenue of $479.40 million during the quarter, compared to analysts' expectations of $708.50 million. Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The business's quarterly revenue was down 32.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. As a group, equities analysts forecast that Essential Utilities, Inc. will post 2 earnings per share for the current year.

Essential Utilities Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 3.18%. The ex-dividend date is Thursday, May 9th. This is an increase from Essential Utilities's previous quarterly dividend of $0.31. Essential Utilities's payout ratio is presently 58.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird cut their price target on Essential Utilities from $44.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday. Evercore ISI cut their price target on Essential Utilities from $51.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, March 4th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.00.

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.