Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 4.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,046,443 shares of the company’s stock after buying an additional 49,044 shares during the period. Franklin Resources Inc.’s holdings in Essential Utilities were worth $38,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. VSM Wealth Advisory LLC acquired a new position in Essential Utilities during the fourth quarter worth $26,000. IFP Advisors Inc lifted its stake in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after acquiring an additional 473 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Essential Utilities during the 4th quarter worth about $45,000. Stonebridge Financial Group LLC purchased a new position in Essential Utilities during the 4th quarter valued at about $60,000. Finally, Crews Bank & Trust acquired a new position in Essential Utilities in the 4th quarter valued at about $90,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on WTRG shares. Wells Fargo & Company raised their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Evercore ISI 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, March 5th. StockNews.com upgraded Essential Utilities from a “sell” rating to a “hold” rating in a research note on Friday. UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Trading Down 2.5 %

NYSE:WTRG opened at $39.62 on Friday. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The stock has a market cap of $10.92 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The stock has a 50-day simple moving average of $37.56 and a 200-day simple moving average of $37.83.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $698.77 million. As a group, analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.29%. Essential Utilities’s dividend payout ratio is currently 59.91%.

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.