Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc decreased its position in Essential Utilities, Inc. (NYSE:WTRG) by 14.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,048,821 shares of the company’s stock after selling 172,958 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Essential Utilities were worth $40,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Friedenthal Financial purchased a new stake in Essential Utilities in the third quarter valued at approximately $25,000. Voisard Asset Management Group Inc. purchased a new position in shares of Essential Utilities during the second quarter worth $37,000. Farther Finance Advisors LLC lifted its position in Essential Utilities by 81.2% during the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after purchasing an additional 515 shares during the period. Bfsg LLC boosted its holdings in Essential Utilities by 157.0% in the third quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after purchasing an additional 727 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in Essential Utilities during the 2nd quarter worth about $66,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Up 1.5 %

WTRG stock opened at $39.67 on Friday. Essential Utilities, Inc. has a 52 week low of $33.28 and a 52 week high of $41.78. The company has a quick ratio of 0.44, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a 50-day simple moving average of $39.06 and a 200-day simple moving average of $38.70. The stock has a market capitalization of $10.86 billion, a P/E ratio of 19.84, a P/E/G ratio of 3.50 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last released its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Equities analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WTRG. Bank of America reissued a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company lowered their price objective on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $41.00 in a report on Thursday. Robert W. Baird increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Evercore ISI lifted their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Essential Utilities 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.