Sumitomo Mitsui Trust Group Inc. Has $1.81 Million Holdings in Essential Utilities Inc. $WTRG

Sumitomo Mitsui Trust Group Inc. lessened its stake in Essential Utilities Inc. (NYSE:WTRG) by 92.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,031 shares of the company’s stock after selling 520,598 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Essential Utilities were worth $1,813,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth approximately $25,000. Fideuram Asset Management Ireland dac bought a new position in Essential Utilities during the fourth quarter valued at about $27,000. Evolution Wealth Management Inc. purchased a new stake in Essential Utilities during the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Essential Utilities during the fourth quarter worth about $32,000. Finally, Motiv8 Investments LLC bought a new stake in Essential Utilities in the fourth quarter worth about $35,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Down 1.7%

WTRG opened at $37.91 on Thursday. Essential Utilities Inc. has a 12 month low of $36.10 and a 12 month high of $42.37. The company has a market cap of $10.75 billion, a PE ratio of 19.25 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 1.21. The company has a 50 day moving average of $37.62 and a 200 day moving average of $38.77.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Thursday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Essential Utilities had a net margin of 21.82% and a return on equity of 8.34%. The business had revenue of $861.76 million for the quarter, compared to the consensus estimate of $782.90 million. During the same period in the previous year, the firm earned $1.03 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts expect that Essential Utilities Inc. will post 2.21 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on WTRG. Wall Street Zen upgraded shares of Essential Utilities to a “sell” rating in a research note on Saturday, July 4th. Argus upgraded shares of Essential Utilities to a “strong-buy” rating in a research note on Monday, March 23rd. UBS Group lifted their price target on shares of Essential Utilities from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Essential Utilities in a research note on Friday, May 22nd. Finally, Barclays increased their price objective on Essential Utilities from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

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.