Geode Capital Management LLC Raises Stake in Essential Utilities, Inc. (NYSE:WTRG)

Geode Capital Management LLC boosted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,305,976 shares of the company’s stock after buying an additional 82,456 shares during the quarter. Geode Capital Management LLC owned approximately 1.57% of Essential Utilities worth $165,701,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of Essential Utilities by 14.7% during the 2nd quarter. SG Americas Securities LLC now owns 6,163 shares of the company’s stock worth $230,000 after purchasing an additional 791 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Essential Utilities by 14.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 42,421 shares of the company’s stock valued at $1,584,000 after purchasing an additional 5,363 shares during the period. Raymond James & Associates increased its position in Essential Utilities by 13.0% in the second quarter. Raymond James & Associates now owns 140,789 shares of the company’s stock worth $5,256,000 after buying an additional 16,231 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Essential Utilities in the second quarter valued at $295,000. Finally, Krilogy Financial LLC lifted its position in shares of Essential Utilities by 72.7% during the 2nd quarter. Krilogy Financial LLC now owns 40,480 shares of the company’s stock valued at $1,511,000 after buying an additional 17,040 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Down 1.0 %

Shares of WTRG opened at $38.69 on Monday. Essential Utilities, Inc. has a twelve month low of $33.57 and a twelve month high of $41.78. The stock has a market cap of $10.62 billion, a PE ratio of 19.35, a P/E/G ratio of 3.06 and a beta of 0.85. 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 business’s 50-day moving average price is $39.34 and its 200-day moving average price is $38.96.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $435.30 million for the quarter, compared to analyst estimates of $416.95 million. During the same quarter in the prior year, the firm posted $0.30 EPS. Essential Utilities’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.37%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Jefferies Financial Group lowered Essential Utilities from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Robert W. Baird lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Bank of America restated a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

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.