W.H. Cornerstone Investments Inc. Decreases Position in Essential Utilities, Inc. (NYSE:WTRG)

W.H. Cornerstone Investments Inc. lessened its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 17.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,837 shares of the company’s stock after selling 1,409 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Essential Utilities were worth $248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its position in shares of Essential Utilities by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock worth $2,001,000 after purchasing an additional 803 shares during the last quarter. Synergy Asset Management LLC lifted its position in shares of Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock worth $5,529,000 after purchasing an additional 71,222 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Empower Advisory Group LLC lifted its position in shares of Essential Utilities by 5.6% during the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock worth $61,152,000 after purchasing an additional 84,596 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of Essential Utilities during the 4th quarter worth $638,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of WTRG opened at $35.84 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a market cap of $9.84 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. 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 $35.99 and a 200 day moving average price of $38.15.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.63%. Essential Utilities’s dividend payout ratio is presently 65.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WTRG shares. Jefferies Financial Group raised shares of 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. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. 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 research report on Wednesday, November 6th. Finally, UBS Group reduced their price target 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.