Shell Asset Management Co. Decreases Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Shell Asset Management Co. lowered its stake in Essential Utilities, Inc. (NYSE:WTRG) by 19.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,168 shares of the company’s stock after selling 535 shares during the quarter. Shell Asset Management Co.’s holdings in Essential Utilities were worth $79,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC purchased a new stake in Essential Utilities during the 4th quarter valued at $26,000. IFP Advisors Inc grew its holdings in shares of Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after acquiring an additional 473 shares during the period. New Age Alpha Advisors LLC bought a new position in Essential Utilities in the fourth quarter valued at about $45,000. Bessemer Group Inc. lifted its holdings in Essential Utilities by 98.9% in the fourth quarter. Bessemer Group Inc. now owns 1,565 shares of the company’s stock valued at $56,000 after acquiring an additional 778 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in Essential Utilities in the fourth quarter worth about $60,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

WTRG has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Robert W. Baird reduced their target price on shares of Essential Utilities from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Evercore ISI lifted 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. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. Finally, StockNews.com raised Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, April 20th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.50.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $39.14 on Tuesday. The stock has a market cap of $10.97 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The firm has a fifty day moving average price of $39.48 and a 200-day moving average price of $37.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.23. The company had revenue of $783.63 million during the quarter, compared to the consensus estimate of $713.80 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Essential Utilities’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Equities analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is currently 58.30%.

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.