ProShare Advisors LLC Purchases 68,177 Shares of Essential Utilities, Inc. (NYSE:WTRG)

ProShare Advisors LLC lifted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 873,797 shares of the company's stock after purchasing an additional 68,177 shares during the period. ProShare Advisors LLC owned approximately 0.32% of Essential Utilities worth $31,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WTRG. Synergy Asset Management LLC lifted its stake in shares of Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock worth $5,529,000 after buying an additional 71,222 shares during the last quarter. Brighton Jones LLC bought a new stake in Essential Utilities during the 4th quarter worth approximately $638,000. RWC Asset Management LLP bought a new stake in shares of Essential Utilities in the 4th quarter valued at $2,119,000. Atria Wealth Solutions Inc. acquired a new position in shares of Essential Utilities during the 4th quarter valued at $504,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Essential Utilities by 10.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,071,868 shares of the company's stock worth $75,250,000 after buying an additional 199,936 shares during the last quarter. 74.78% of the stock is owned by institutional investors.

Essential Utilities Trading Up 0.4%

NYSE:WTRG traded up $0.15 during trading hours on Tuesday, hitting $39.30. The company had a trading volume of 1,083,847 shares, compared to its average volume of 1,469,373. 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 $11.02 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a 50-day moving average price of $39.48 and a 200 day moving average price of $37.99.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.23. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $783.63 million during the quarter, compared to analyst estimates of $713.80 million. During the same quarter in the previous year, the firm earned $0.97 EPS. Essential Utilities's revenue was up 28.0% on a year-over-year basis. On average, equities research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.31%. Essential Utilities's dividend payout ratio (DPR) is presently 58.30%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WTRG. Robert W. Baird reduced their target price on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Wells Fargo & Company raised their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. StockNews.com raised shares of Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Evercore ISI lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Finally, Jefferies Financial Group raised 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 note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $43.50.

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.