Retirement Systems of Alabama Has $12.76 Million Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Retirement Systems of Alabama increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,291 shares of the company’s stock after buying an additional 1,339 shares during the period. Retirement Systems of Alabama owned 0.13% of Essential Utilities worth $12,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Friedenthal Financial acquired a new position in shares of Essential Utilities during the third quarter valued at about $25,000. Brooklyn Investment Group bought a new position in Essential Utilities in the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities during the 3rd quarter valued at about $28,000. First Horizon Advisors Inc. increased its holdings in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Essential Utilities in the third quarter worth approximately $42,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $35.15 on Friday. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The company’s 50-day moving average is $36.35 and its 200 day moving average is $38.31. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market capitalization of $9.65 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a dividend of $0.3255 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.70%. Essential Utilities’s payout ratio is currently 65.00%.

Wall Street Analysts Forecast Growth

WTRG has been the topic of several analyst reports. UBS Group cut their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, January 28th. Robert W. Baird raised 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, November 6th. Finally, Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. One investment analyst has 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, Essential Utilities presently has an average 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.