Signaturefd LLC Cuts Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Signaturefd LLC decreased its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,813 shares of the company’s stock after selling 311 shares during the period. Signaturefd LLC’s holdings in Essential Utilities were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WTRG. Brooklyn Investment Group purchased a new stake in shares of Essential Utilities during the third quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in Essential Utilities in the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. grew its position in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 294 shares during the last quarter. IFP Advisors Inc increased its stake in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after purchasing an additional 473 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Essential Utilities in the third quarter worth $42,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $38.39 on Friday. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The firm has a fifty day moving average of $36.61 and a 200 day moving average of $37.84. The firm has a market cap of $10.55 billion, a PE ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.79.

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

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.39%. Essential Utilities’s dividend payout ratio is presently 59.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WTRG shares. 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 report on Tuesday, January 14th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Evercore ISI raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.50.

About Essential Utilities

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.