Capital Market Strategies LLC Has $512,000 Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Capital Market Strategies LLC increased its stake in Essential Utilities, Inc. (NYSE:WTRG) by 166.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,100 shares of the company’s stock after purchasing an additional 8,800 shares during the quarter. Capital Market Strategies LLC’s holdings in Essential Utilities were worth $512,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in Essential Utilities by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock valued at $549,000 after purchasing an additional 250 shares during the period. First Horizon Advisors Inc. raised its stake in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares in the last quarter. Tompkins Financial Corp lifted its holdings in Essential Utilities by 21.7% during the 3rd quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Essential Utilities by 7.2% in the fourth quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after acquiring an additional 332 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Essential Utilities by 10.6% in the third quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company’s stock worth $134,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and cut their price target for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Wells Fargo & Company decreased their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Bank of America restated a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.00.

Essential Utilities Stock Down 0.8 %

WTRG stock traded down $0.30 during trading hours on Monday, reaching $35.86. 440,051 shares of the stock were exchanged, compared to its average volume of 700,828. The firm’s 50-day moving average is $38.44 and its 200-day moving average is $38.89. Essential Utilities, Inc. has a 12 month low of $33.57 and a 12 month high of $41.78. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 3.06 and a beta of 0.86. 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 (NYSE:WTRG) last announced its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $435.30 million for the quarter, compared to analyst estimates of $416.95 million. During the same quarter last year, the firm earned $0.30 EPS. Essential Utilities’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts expect that Essential Utilities, Inc. will post 2.01 earnings per share for the current year.

Essential Utilities Announces Dividend

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

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.