Metis Global Partners LLC Lowers Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Metis Global Partners LLC cut its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,350 shares of the company’s stock after selling 499 shares during the quarter. Metis Global Partners LLC’s holdings in Essential Utilities were worth $438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WTRG. Epoch Investment Partners Inc. purchased a new position in Essential Utilities during the 1st quarter worth $46,280,000. Pathway Financial Advisers LLC increased its stake in shares of Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock valued at $48,424,000 after buying an additional 1,227,010 shares during the period. Boston Trust Walden Corp raised its holdings in shares of Essential Utilities by 117.3% in the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock valued at $75,701,000 after acquiring an additional 1,059,320 shares in the last quarter. Energy Income Partners LLC purchased a new stake in Essential Utilities in the first quarter worth about $26,917,000. Finally, AMF Tjanstepension AB bought a new position in Essential Utilities during the 2nd quarter worth about $11,853,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

NYSE WTRG opened at $38.83 on Tuesday. The firm’s fifty day simple moving average is $39.03 and its two-hundred day simple moving average is $38.82. The firm has a market capitalization of $10.66 billion, a P/E ratio of 19.42, a P/E/G ratio of 3.05 and a beta of 0.84. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 12-month low of $33.57 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 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 $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s payout ratio is 65.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WTRG. Robert W. Baird boosted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group lowered Essential Utilities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Bank of America reaffirmed a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research report on Friday, September 20th. Evercore ISI boosted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price objective on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.00.

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.