Swiss National Bank Cuts Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Swiss National Bank lessened its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 734,500 shares of the company’s stock after selling 34,400 shares during the quarter. Swiss National Bank’s holdings in Essential Utilities were worth $26,677,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Essential Utilities in the third quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in Essential Utilities in the third quarter worth $28,000. First Horizon Advisors Inc. raised its position in Essential Utilities by 61.4% in 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. IFP Advisors Inc raised its position in Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after acquiring an additional 473 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities in the third quarter valued at $42,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Up 0.9 %

WTRG opened at $39.84 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a market cap of $10.95 billion, a P/E ratio of 19.92, a PEG ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The business’s fifty day simple moving average is $36.27 and its 200 day simple moving average is $37.83.

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

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s payout ratio is 59.91%.

Analyst Ratings Changes

Several analysts have weighed in on WTRG shares. Evercore ISI upped their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company upped their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.