Essential Utilities, Inc. (NYSE:WTRG) Stock Holdings Increased by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co boosted its position in Essential Utilities, Inc. (NYSE:WTRG) by 32.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,411 shares of the company’s stock after buying an additional 6,530 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Essential Utilities were worth $959,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities analysts have commented on WTRG shares. UBS Group decreased their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. 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 note on Tuesday, January 28th. Finally, Robert W. Baird lifted their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Essential Utilities currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $38.05 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock has a 50 day simple moving average of $35.51 and a 200-day simple moving average of $37.86. The company has a market cap of $10.45 billion, a PE ratio of 19.03, a P/E/G ratio of 2.57 and a beta of 0.87. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.42%. Essential Utilities’s dividend payout ratio is presently 65.00%.

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.