Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lowered its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 66.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,502 shares of the company’s stock after selling 211,623 shares during the period. AMF Tjanstepension AB’s holdings in Essential Utilities were worth $3,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Essential Utilities during the third quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities during the third quarter worth $28,000. First Horizon Advisors Inc. boosted its stake in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the last quarter. IFP Advisors Inc boosted its stake in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after buying an additional 473 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Essential Utilities during the third quarter worth $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Price Performance

WTRG opened at $39.81 on Friday. The stock’s 50-day moving average price is $35.85 and its 200 day moving average price is $37.81. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. 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 firm has a market cap of $10.95 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. As a group, sell-side analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is 59.91%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WTRG shares. Evercore ISI boosted their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group decreased their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company upped their price target on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.50.

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.