Alps Advisors Inc. Purchases 57,689 Shares of Essential Utilities Inc. $WTRG

Alps Advisors Inc. raised its holdings in shares of Essential Utilities Inc. (NYSE:WTRG) by 75.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,963 shares of the company’s stock after acquiring an additional 57,689 shares during the quarter. Alps Advisors Inc.’s holdings in Essential Utilities were worth $5,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. SouthState Corp increased its stake in Essential Utilities by 834.7% in the second quarter. SouthState Corp now owns 701 shares of the company’s stock valued at $26,000 after acquiring an additional 626 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Essential Utilities in the third quarter valued at about $27,000. Atlantic Union Bankshares Corp raised its position in Essential Utilities by 1,163.8% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 733 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares during the last quarter. Bessemer Group Inc. lifted its stake in Essential Utilities by 43.6% in the third quarter. Bessemer Group Inc. now owns 1,114 shares of the company’s stock worth $45,000 after acquiring an additional 338 shares during the period. Finally, True Wealth Design LLC lifted its position in shares of Essential Utilities by 141.2% in the 3rd quarter. True Wealth Design LLC now owns 1,213 shares of the company’s stock worth $48,000 after purchasing an additional 710 shares during the period. Institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on WTRG. UBS Group reiterated a “neutral” rating and issued a $45.00 price objective (down previously from $46.00) on shares of Essential Utilities in a report on Tuesday, October 28th. Northcoast Research raised Essential Utilities from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a report on Wednesday, December 3rd. Robert W. Baird cut shares of Essential Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Zacks Research raised Essential Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Janney Montgomery Scott cut shares of Essential Utilities from a “buy” rating to a “neutral” rating in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $43.29.

Essential Utilities Price Performance

WTRG opened at $36.91 on Tuesday. The stock has a market cap of $10.45 billion, a P/E ratio of 15.32 and a beta of 0.81. Essential Utilities Inc. has a 52-week low of $34.58 and a 52-week high of $42.37. The business has a fifty day moving average of $38.49 and a 200 day moving average of $38.89. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.13.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be paid a dividend of $0.3426 per share. This represents a $1.37 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, February 9th. Essential Utilities’s payout ratio is presently 56.85%.

About Essential Utilities

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.