Texas Permanent School Fund Corp Has $7.09 Million Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Texas Permanent School Fund Corp lowered its position in Essential Utilities, Inc. (NYSE:WTRGFree Report) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,581 shares of the company’s stock after selling 5,162 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Essential Utilities worth $7,092,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WTRG. Norges Bank bought a new position in Essential Utilities during the fourth quarter worth about $206,493,000. Balyasny Asset Management LLC bought a new position in Essential Utilities during the third quarter worth about $26,728,000. Nuance Investments LLC bought a new position in Essential Utilities during the third quarter worth about $21,570,000. BlackRock Inc. boosted its position in Essential Utilities by 2.0% during the first quarter. BlackRock Inc. now owns 30,129,227 shares of the company’s stock worth $1,315,141,000 after purchasing an additional 576,448 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Essential Utilities by 654.8% during the second quarter. Point72 Asset Management L.P. now owns 656,954 shares of the company’s stock worth $26,219,000 after purchasing an additional 569,921 shares during the period. Hedge funds and other institutional investors own 73.01% of the company’s stock.

Essential Utilities Trading Down 0.4 %

WTRG stock opened at $35.30 on Friday. The company has a market capitalization of $9.64 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 3.09 and a beta of 0.83. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $46.37. The company’s 50 day moving average price is $36.84 and its two-hundred day moving average price is $36.38. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.31 and a current ratio of 0.46.

Essential Utilities Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be paid a $0.307 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, February 8th. Essential Utilities’s payout ratio is 68.33%.

Wall Street Analyst Weigh In

WTRG has been the subject of a number of research reports. StockNews.com lowered shares of Essential Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. Edward Jones upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus target price of $48.25.

Get Our Latest Analysis on WTRG

Essential Utilities Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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