Essential Utilities, Inc. (NYSE:WTRG) Stock Position Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 18.8% during the 4th quarter, HoldingsChannel reports. The firm owned 32,565 shares of the company’s stock after buying an additional 5,152 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Essential Utilities were worth $1,183,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WTRG. HighTower Advisors LLC raised its position in Essential Utilities by 3.9% during the fourth quarter. HighTower Advisors LLC now owns 101,573 shares of the company’s stock valued at $3,689,000 after buying an additional 3,859 shares during the period. Moors & Cabot Inc. grew its stake in Essential Utilities by 1.5% during the 4th quarter. Moors & Cabot Inc. now owns 25,163 shares of the company’s stock valued at $914,000 after acquiring an additional 383 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Essential Utilities in the fourth quarter worth approximately $234,000. Independent Advisor Alliance purchased a new stake in shares of Essential Utilities in the fourth quarter worth approximately $388,000. Finally, Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Essential Utilities by 6.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,362 shares of the company’s stock worth $340,000 after purchasing an additional 600 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. UBS Group dropped their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their price target on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Price Performance

NYSE WTRG opened at $39.54 on Friday. The stock’s 50-day moving average is $36.18 and its two-hundred day moving average is $37.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The firm has a market cap of $10.87 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last released its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million during the quarter, compared to analyst estimates of $698.77 million. On average, analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.29%. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

Essential Utilities Company 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.