Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Farmers Trust Co.

Farmers Trust Co. reduced its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,652 shares of the company’s stock after selling 318 shares during the quarter. Farmers Trust Co.’s holdings in Essential Utilities were worth $423,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of WTRG. Fulton Bank N.A. purchased a new stake in shares of Essential Utilities during the 4th quarter worth approximately $288,000. Capital Market Strategies LLC boosted its position in Essential Utilities by 166.0% during the fourth quarter. Capital Market Strategies LLC now owns 14,100 shares of the company’s stock worth $512,000 after purchasing an additional 8,800 shares in the last quarter. Nordea Investment Management AB grew its holdings in Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Essential Utilities in the fourth quarter valued at $859,000. Finally, GAMMA Investing LLC raised its stake in shares of Essential Utilities by 7.2% during the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock worth $180,000 after buying an additional 332 shares during the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 0.8 %

Shares of NYSE:WTRG traded down $0.28 during midday trading on Wednesday, reaching $34.99. The company’s stock had a trading volume of 873,949 shares, compared to its average volume of 1,030,637. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 3.06 and a beta of 0.86. The business has a 50 day moving average price of $38.29 and a 200 day moving average price of $38.86. Essential Utilities, Inc. has a 1 year low of $33.57 and a 1 year high of $41.78. 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) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. During the same quarter in the prior year, the company posted $0.30 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Wall Street Analyst Weigh In

Several analysts have issued reports on WTRG shares. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and reduced their price target for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Robert W. Baird increased their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $43.00 to $39.00 in a report on Tuesday. Finally, Bank of America reaffirmed a “buy” rating and set a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus price target of $43.20.

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.