Choreo LLC Lowers Stake in Essential Utilities, Inc. (NYSE:WTRG)

Choreo LLC lessened its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 6.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,791 shares of the company’s stock after selling 626 shares during the quarter. Choreo LLC’s holdings in Essential Utilities were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its position in shares of Essential Utilities by 604.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after purchasing an additional 610 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Essential Utilities by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Essential Utilities by 4,210.0% in the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after buying an additional 842 shares in the last quarter. Resources Management Corp CT ADV lifted its stake in shares of Essential Utilities by 250.0% in the third quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 750 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of Essential Utilities during the third quarter valued at approximately $39,000. Institutional investors own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Evercore ISI lowered their price objective on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, Essential Utilities currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Insiders Place Their Bets

In other news, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the transaction, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at $2,149,100.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the sale, the chief accounting officer now owns 13,358 shares of the company’s stock, valued at approximately $488,368.48. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $37.76 on Friday. The firm’s 50-day moving average price is $35.80 and its 200-day moving average price is $35.83. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $43.74. The company has a market cap of $10.33 billion, a PE ratio of 17.90, a PEG ratio of 3.28 and a beta of 0.80. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $479.40 million for the quarter, compared to analysts’ expectations of $708.50 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.72%. The firm’s quarterly revenue was down 32.0% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. As a group, analysts anticipate that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a $0.3071 dividend. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.23 dividend on an annualized basis and a yield of 3.25%. Essential Utilities’s dividend payout ratio is currently 58.29%.

Essential Utilities 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.