Candriam S.C.A. Sells 8,964 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Candriam S.C.A. trimmed its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 348,481 shares of the company’s stock after selling 8,964 shares during the period. Candriam S.C.A.’s holdings in Essential Utilities were worth $12,657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Glenmede Trust Co. NA grew its stake in Essential Utilities by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock valued at $2,001,000 after acquiring an additional 803 shares in the last quarter. Synergy Asset Management LLC grew its stake in Essential Utilities by 92.8% during the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock valued at $5,529,000 after acquiring an additional 71,222 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after buying an additional 972,803 shares in the last quarter. Empower Advisory Group LLC grew its stake in shares of Essential Utilities by 5.6% in the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock worth $61,152,000 after buying an additional 84,596 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth $638,000. 74.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented 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 note on Tuesday, January 28th. UBS Group dropped 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 note on Tuesday, January 14th. Wells Fargo & Company lifted 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. Finally, Evercore ISI lifted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday. One equities research 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.50.

Essential Utilities Price Performance

Essential Utilities stock opened at $39.81 on Friday. The firm has a 50-day moving average price of $35.85 and a 200-day moving average price of $37.83. The firm has a market capitalization of $10.95 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. 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 $33.18 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $604.38 million during the quarter, compared to analyst estimates of $698.77 million. As a group, equities research analysts forecast 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. Investors of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. 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 3.27%. Essential Utilities’s payout ratio is 59.91%.

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.