Amalgamated Bank Purchases 633 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Amalgamated Bank lifted its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 0.5% in the 4th quarter, Holdings Channel reports. The fund owned 120,674 shares of the company’s stock after buying an additional 633 shares during the quarter. Amalgamated Bank’s holdings in Essential Utilities were worth $4,383,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in Essential Utilities in the 3rd quarter valued at $3,785,000. Assenagon Asset Management S.A. raised its position in shares of Essential Utilities by 286.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 38,373 shares of the company’s stock valued at $1,480,000 after buying an additional 28,444 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Essential Utilities by 11.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,087 shares of the company’s stock valued at $1,816,000 after acquiring an additional 4,666 shares during the last quarter. State of Alaska Department of Revenue raised its position in Essential Utilities by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 29,256 shares of the company’s stock valued at $1,128,000 after purchasing an additional 1,985 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Essential Utilities by 4.4% during the third quarter. First Trust Direct Indexing L.P. now owns 8,024 shares of the company’s stock worth $309,000 after purchasing an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

WTRG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday. Jefferies Financial Group raised shares of 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. Robert W. Baird boosted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, UBS Group reduced their price objective 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.33.

Essential Utilities Stock Up 1.0 %

Shares of NYSE:WTRG opened at $37.96 on Friday. The stock’s 50-day moving average is $35.60 and its 200 day moving average is $37.85. The company has a market cap of $10.42 billion, a PE ratio of 18.98, a P/E/G ratio of 2.57 and a beta of 0.87. 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 1 year low of $33.18 and a 1 year high of $41.78.

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, beating 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 analysts’ expectations of $698.77 million. Sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 annualized dividend and a yield of 3.43%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

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.