Inceptionr LLC Invests $587,000 in Essential Utilities, Inc. (NYSE:WTRG)

Inceptionr LLC acquired a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,169 shares of the company’s stock, valued at approximately $587,000.

Several other institutional investors and hedge funds have also made changes to their positions in WTRG. Farther Finance Advisors LLC boosted its position in shares of Essential Utilities by 81.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock worth $44,000 after acquiring an additional 515 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Essential Utilities by 5.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 139,864 shares of the company’s stock worth $5,395,000 after acquiring an additional 6,823 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Essential Utilities by 6.8% in the 3rd quarter. Van ECK Associates Corp now owns 72,211 shares of the company’s stock valued at $2,909,000 after purchasing an additional 4,573 shares during the last quarter. QRG Capital Management Inc. grew its stake in Essential Utilities by 16.7% during the 3rd quarter. QRG Capital Management Inc. now owns 14,001 shares of the company’s stock worth $540,000 after buying an additional 1,999 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its stake in Essential Utilities by 0.5% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 2,034,497 shares of the company’s stock worth $78,471,000 after buying an additional 10,560 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Up 3.5 %

Essential Utilities stock opened at $39.81 on Friday. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The stock has a 50 day moving average of $35.85 and a two-hundred day moving average of $37.83. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. As a group, research analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.27%. Essential Utilities’s dividend payout ratio is currently 59.91%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WTRG shares. UBS Group dropped their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company raised their price target 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 upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. Finally, Evercore ISI raised their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and an average target price of $43.50.

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.