XTX Topco Ltd Grows Position in Essential Utilities, Inc. (NYSE:WTRG)

XTX Topco Ltd increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,247 shares of the company’s stock after buying an additional 3,712 shares during the quarter. XTX Topco Ltd’s holdings in Essential Utilities were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in WTRG. Friedenthal Financial bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group bought a new stake in Essential Utilities in the third quarter valued at $26,000. Darwin Wealth Management LLC purchased a new position in Essential Utilities during the 3rd quarter valued at $28,000. First Horizon Advisors Inc. raised its holdings in Essential Utilities by 61.4% in 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 in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Essential Utilities in the 3rd quarter worth about $42,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WTRG has been the topic of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Bank of America reissued a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research report on Friday, September 20th. Jefferies Financial Group lowered Essential Utilities from a “buy” rating to a “hold” rating and dropped their price target for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Essential Utilities Stock Performance

Shares of WTRG opened at $38.83 on Tuesday. Essential Utilities, Inc. has a 52 week low of $33.57 and a 52 week high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock has a market cap of $10.66 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.06 and a beta of 0.85. The business’s 50 day moving average price is $39.30 and its 200-day moving average price is $38.89.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Equities research analysts anticipate that Essential Utilities, Inc. will post 2.02 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, November 12th. Essential Utilities’s payout ratio is 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.