Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network lessened its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,414 shares of the company’s stock after selling 580 shares during the period. First Affirmative Financial Network’s holdings in Essential Utilities were worth $372,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. First National Corp MA ADV boosted its holdings in shares of Essential Utilities by 111.6% during the 1st quarter. First National Corp MA ADV now owns 61,128 shares of the company’s stock worth $2,416,000 after purchasing an additional 32,237 shares during the last quarter. Secure Asset Management LLC lifted its position in Essential Utilities by 15.7% during the first quarter. Secure Asset Management LLC now owns 52,462 shares of the company’s stock worth $2,074,000 after buying an additional 7,130 shares in the last quarter. Apella Capital LLC lifted its position in Essential Utilities by 4.4% during the first quarter. Apella Capital LLC now owns 7,914 shares of the company’s stock worth $299,000 after buying an additional 334 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Essential Utilities during the first quarter worth $366,000. Finally, EWG Elevate Inc. purchased a new stake in Essential Utilities in the 1st quarter valued at $208,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WTRG has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price 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. Evercore ISI raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Wall Street Zen raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Sunday, April 20th. Finally, Robert W. Baird dropped their price target on shares of Essential Utilities from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Essential Utilities Stock Down 0.0%

Shares of NYSE:WTRG opened at $37.65 on Friday. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.57 and a beta of 0.81. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The business has a 50-day moving average price of $39.32 and a 200 day moving average price of $37.94. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.23. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $783.63 million during the quarter, compared to analysts’ expectations of $713.80 million. During the same period last year, the business earned $0.97 earnings per share. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. Sell-side analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current year.

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.