Essential Utilities Inc. $WTRG Stake Lowered by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Essential Utilities Inc. (NYSE:WTRG) by 47.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 134,214 shares of the company’s stock after selling 119,523 shares during the quarter. SG Americas Securities LLC’s holdings in Essential Utilities were worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Essential Utilities by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,734,532 shares of the company’s stock worth $175,313,000 after buying an additional 173,319 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Essential Utilities by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 2,679,144 shares of the company’s stock valued at $99,503,000 after acquiring an additional 7,137 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Essential Utilities by 2.7% during the second quarter. Boston Trust Walden Corp now owns 2,544,883 shares of the company’s stock valued at $94,517,000 after acquiring an additional 68,072 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Essential Utilities by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,438,783 shares of the company’s stock worth $96,405,000 after acquiring an additional 92,112 shares during the last quarter. Finally, Maple Brown Abbott Ltd acquired a new stake in shares of Essential Utilities in the 1st quarter worth about $94,251,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Price Performance

NYSE WTRG opened at $39.97 on Tuesday. Essential Utilities Inc. has a 12 month low of $33.18 and a 12 month high of $42.37. The firm has a market capitalization of $11.31 billion, a PE ratio of 17.15, a P/E/G ratio of 3.11 and a beta of 0.84. The company’s 50 day simple moving average is $39.37 and its 200 day simple moving average is $38.67. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.The company had revenue of $476.97 million for the quarter, compared to analysts’ expectations of $472.40 million. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.3426 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $1.37 annualized dividend and a yield of 3.4%. Essential Utilities’s payout ratio is 56.85%.

Analyst Upgrades and Downgrades

WTRG has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Essential Utilities in a research report on Thursday. Janney Montgomery Scott lowered shares of Essential Utilities from a “buy” rating to a “neutral” rating in a research note on Monday, October 27th. Wall Street Zen raised Essential Utilities from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Barclays boosted their price objective on Essential Utilities from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Finally, Robert W. Baird raised their target price on Essential Utilities from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.57.

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.