Allworth Financial LP Acquires 184,258 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Allworth Financial LP grew its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 6,305.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,180 shares of the company’s stock after purchasing an additional 184,258 shares during the period. Allworth Financial LP’s holdings in Essential Utilities were worth $6,291,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Friedenthal Financial acquired a new stake in Essential Utilities in the 3rd quarter valued at $25,000. Brooklyn Investment Group bought a new position in shares of Essential Utilities in the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities in the third quarter valued at about $28,000. First Horizon Advisors Inc. raised its holdings in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Essential Utilities during the third quarter worth about $42,000. Institutional investors own 74.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WTRG. Wells Fargo & Company lowered Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. 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 report on Tuesday, January 14th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Finally, Robert W. Baird lifted their price objective 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities Trading Down 1.7 %

Shares of Essential Utilities stock opened at $35.21 on Monday. 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 business has a fifty day simple moving average of $35.85 and a two-hundred day simple moving average of $38.07. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.53 and a beta of 0.86.

Essential Utilities Announces Dividend

The business also recently announced 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. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio is presently 65.00%.

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.