Benedict Financial Advisors Inc. Has $2.82 Million Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Benedict Financial Advisors Inc. lifted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,700 shares of the company’s stock after acquiring an additional 902 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Essential Utilities were worth $2,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock worth $48,424,000 after purchasing an additional 1,227,010 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Essential Utilities by 117.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock worth $75,701,000 after buying an additional 1,059,320 shares during the period. Nordea Investment Management AB grew its stake in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after buying an additional 972,803 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Essential Utilities in the 3rd quarter valued at about $30,842,000. Finally, JPMorgan Chase & Co. lifted its position in Essential Utilities by 33.1% during the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after acquiring an additional 237,096 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Down 0.5 %

Shares of NYSE WTRG opened at $35.15 on Friday. The stock has a market capitalization of $9.65 billion, a P/E ratio of 17.58, a PEG ratio of 2.53 and a beta of 0.86. The stock’s fifty day moving average is $36.25 and its 200 day moving average is $38.28. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WTRG. Robert W. Baird boosted their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group lowered their price objective 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 raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

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.