Sterling Investment Advisors Ltd. Raises Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Sterling Investment Advisors Ltd. grew its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,414 shares of the company’s stock after buying an additional 1,955 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Essential Utilities were worth $1,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its holdings in shares of Essential Utilities by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock worth $2,001,000 after purchasing an additional 803 shares in the last quarter. Synergy Asset Management LLC raised its position in shares of Essential Utilities by 92.8% in the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock worth $5,529,000 after acquiring an additional 71,222 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares in the last quarter. Empower Advisory Group LLC boosted its stake in shares of Essential Utilities by 5.6% in the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock worth $61,152,000 after buying an additional 84,596 shares during the last quarter. Finally, Brighton Jones LLC purchased a new position in Essential Utilities during the fourth quarter valued at $638,000. 74.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on WTRG shares. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. Robert W. Baird increased their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company cut 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 report on Tuesday, January 7th. Finally, UBS Group dropped their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Essential Utilities Stock Performance

Shares of WTRG opened at $37.04 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 $10.17 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. The company’s fifty day moving average is $35.51 and its 200-day moving average is $37.87. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78.

Essential Utilities Announces Dividend

The business 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 3.51%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s payout ratio is currently 65.00%.

Essential Utilities Company 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.