Voya Investment Management LLC Has $2.16 Million Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Voya Investment Management LLC lifted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 80.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,528 shares of the company's stock after buying an additional 26,611 shares during the period. Voya Investment Management LLC's holdings in Essential Utilities were worth $2,162,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. VSM Wealth Advisory LLC bought a new position in Essential Utilities during the fourth quarter valued at $26,000. IFP Advisors Inc boosted its position in shares of Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after acquiring an additional 473 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Essential Utilities in the 4th quarter worth $45,000. Bessemer Group Inc. lifted its stake in Essential Utilities by 98.9% during the fourth quarter. Bessemer Group Inc. now owns 1,565 shares of the company's stock worth $56,000 after purchasing an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in Essential Utilities in the 4th quarter worth approximately $60,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Essential Utilities Stock Up 0.1 %

NYSE WTRG traded up $0.05 during trading hours on Friday, hitting $40.65. 326,230 shares of the company were exchanged, compared to its average volume of 1,450,283. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.57 and a beta of 0.85. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a 50 day moving average of $39.56 and a two-hundred day moving average of $38.03. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

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

Essential Utilities Dividend Announcement

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 3.20%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is presently 59.91%.

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.