Thrivent Financial for Lutherans Decreases Holdings in Essential Utilities Inc. $WTRG

Thrivent Financial for Lutherans trimmed its stake in shares of Essential Utilities Inc. (NYSE:WTRG) by 36.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 64,241 shares of the company’s stock after selling 36,781 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Essential Utilities were worth $2,464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. lifted its holdings in Essential Utilities by 2.3% during the third quarter. First Citizens Bank & Trust Co. now owns 13,036 shares of the company’s stock valued at $520,000 after purchasing an additional 287 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Essential Utilities by 1.7% in the third quarter. Belpointe Asset Management LLC now owns 17,275 shares of the company’s stock valued at $689,000 after buying an additional 291 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Essential Utilities by 43.6% in the third quarter. Bessemer Group Inc. now owns 1,114 shares of the company’s stock valued at $45,000 after buying an additional 338 shares during the last quarter. AGP Franklin LLC raised its position in shares of Essential Utilities by 0.9% in the third quarter. AGP Franklin LLC now owns 38,857 shares of the company’s stock valued at $1,550,000 after buying an additional 347 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in shares of Essential Utilities by 1.4% in the third quarter. Wealthcare Advisory Partners LLC now owns 26,080 shares of the company’s stock valued at $1,041,000 after buying an additional 356 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $37.47 on Tuesday. The firm has a 50-day simple moving average of $39.27 and a 200-day simple moving average of $39.07. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 19.02 and a beta of 0.67. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.21. Essential Utilities Inc. has a 52 week low of $36.32 and a 52 week high of $42.37.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Essential Utilities had a net margin of 21.82% and a return on equity of 8.34%. The firm had revenue of $861.76 million during the quarter, compared to analysts’ expectations of $782.90 million. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts predict that Essential Utilities Inc. will post 2.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group set a $41.00 target price on shares of Essential Utilities in a research report on Thursday, May 7th. Argus upgraded shares of Essential Utilities to a “strong-buy” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Essential Utilities in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.40.

Essential Utilities Profile

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.