Virtu Financial LLC Takes $245,000 Position in Essential Utilities, Inc. (NYSE:WTRG)

Virtu Financial LLC bought a new position in Essential Utilities, Inc. (NYSE:WTRG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 6,736 shares of the company’s stock, valued at approximately $245,000.

A number of other large investors have also added to or reduced their stakes in WTRG. Brooklyn Investment Group bought a new position in shares of Essential Utilities during the 3rd quarter valued at $26,000. VSM Wealth Advisory LLC purchased a new stake in Essential Utilities during the fourth quarter valued at $26,000. IFP Advisors Inc lifted its holdings in Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after acquiring an additional 473 shares during the period. Stonebridge Financial Group LLC purchased a new position in Essential Utilities in the fourth quarter worth about $60,000. Finally, Crews Bank & Trust bought a new stake in shares of Essential Utilities during the 4th quarter valued at about $90,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $39.30 on Friday. The stock has a market cap of $10.80 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The firm has a fifty day moving average price of $37.00 and a 200-day moving average price of $37.82. 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 (NYSE:WTRG) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $604.38 million during the quarter, compared to analyst estimates of $698.77 million. Equities 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. Investors of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.31%. Essential Utilities’s dividend payout ratio is presently 59.91%.

Analyst Upgrades and Downgrades

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

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.