Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its holdings in Essential Utilities, Inc. (NYSE:WTRGGet Rating) by 9.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 666,632 shares of the company’s stock after acquiring an additional 58,373 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of Essential Utilities worth $30,565,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WTRG. State of Michigan Retirement System grew its holdings in shares of Essential Utilities by 0.3% during the second quarter. State of Michigan Retirement System now owns 58,571 shares of the company’s stock valued at $2,685,000 after purchasing an additional 200 shares during the last quarter. Resurgent Financial Advisors LLC grew its holdings in Essential Utilities by 1.5% in the 1st quarter. Resurgent Financial Advisors LLC now owns 14,634 shares of the company’s stock worth $748,000 after buying an additional 221 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Essential Utilities by 10.0% in the 1st quarter. Quadrant Capital Group LLC now owns 2,493 shares of the company’s stock worth $128,000 after buying an additional 227 shares in the last quarter. United Capital Financial Advisers LLC grew its holdings in Essential Utilities by 1.7% in the 1st quarter. United Capital Financial Advisers LLC now owns 14,796 shares of the company’s stock worth $757,000 after buying an additional 248 shares in the last quarter. Finally, Selective Wealth Management Inc. grew its holdings in Essential Utilities by 42.9% in the 2nd quarter. Selective Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $46,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 69.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WTRG shares. Robert W. Baird increased their price objective on Essential Utilities from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. StockNews.com raised Essential Utilities from a “sell” rating to a “hold” rating in a research note on Thursday. HSBC raised Essential Utilities from a “hold” rating to a “buy” rating and increased their price target for the company from $53.00 to $57.00 in a research note on Thursday, August 18th. Evercore ISI decreased their price target on Essential Utilities to $44.00 in a research note on Thursday, October 20th. Finally, Bank of America lowered Essential Utilities from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Friday, September 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.83.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $48.30 on Thursday. Essential Utilities, Inc. has a one year low of $38.50 and a one year high of $53.93. The stock has a fifty day moving average of $43.70 and a 200-day moving average of $46.18. The company has a market capitalization of $12.67 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 4.38 and a beta of 0.77. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.37 and a current ratio of 0.64.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a dividend of $0.287 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 2.38%. Essential Utilities’s dividend payout ratio (DPR) is presently 64.97%.

Essential Utilities Company Profile

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Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party.

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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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