Robert A. Rubin Sells 2,023 Shares of Essential Utilities, Inc. (NYSE:WTRG) Stock

Essential Utilities, Inc. (NYSE:WTRG) CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction dated 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 directly owns 13,358 shares in the company, valued at $488,368.48. The sale was disclosed in a filing with the SEC, which is available through this link.

Essential Utilities Stock Up 0.3 %

Shares of WTRG opened at $37.78 on Monday. Essential Utilities, Inc. has a 52 week low of $32.07 and a 52 week high of $43.74. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 3.29 and a beta of 0.80. The stock’s 50-day moving average price is $35.86 and its 200-day moving average price is $35.89.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Essential Utilities had a return on equity of 8.72% and a net margin of 29.52%. The firm had revenue of $479.40 million for the quarter, compared to the consensus estimate of $708.50 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company’s revenue was down 32.0% compared to the same quarter last year. On average, sell-side analysts predict that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a $0.3071 dividend. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.25%. Essential Utilities’s dividend payout ratio is presently 57.82%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI reduced their target price 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 investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Hedge Funds Weigh In On Essential Utilities

Hedge funds have recently bought and sold shares of the business. Bare Financial Services Inc purchased a new position in Essential Utilities during the fourth quarter worth approximately $25,000. Tradewinds Capital Management LLC boosted its position in Essential Utilities by 857.5% during the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after purchasing an additional 626 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after purchasing an additional 610 shares in the last quarter. Lindbrook Capital LLC boosted its position in Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after purchasing an additional 325 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its position in Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after purchasing an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

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.