Swiss National Bank Reduces Stock Position in Essential Utilities Inc. $WTRG

Swiss National Bank cut its holdings in Essential Utilities Inc. (NYSE:WTRG) by 25.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 560,400 shares of the company’s stock after selling 186,600 shares during the period. Swiss National Bank’s holdings in Essential Utilities were worth $22,567,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. acquired a new stake in Essential Utilities in the fourth quarter valued at about $3,547,000. A. D. Beadell Investment Counsel Inc. purchased a new stake in Essential Utilities in the 4th quarter valued at approximately $1,432,000. Perigon Wealth Management LLC acquired a new position in Essential Utilities during the 4th quarter worth approximately $958,000. Brighton Jones LLC acquired a new position in Essential Utilities during the 4th quarter worth approximately $638,000. Finally, Versor Investments LP purchased a new position in shares of Essential Utilities during the 4th quarter worth approximately $1,430,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Essential Utilities in a report on Friday, May 22nd. UBS Group upped their price objective on Essential Utilities from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Barclays increased their price objective on Essential Utilities from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised Essential Utilities to a “sell” rating in a report on Saturday, July 4th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.80.

Essential Utilities Price Performance

WTRG stock opened at $39.62 on Friday. The firm has a 50 day moving average of $37.83 and a 200-day moving average of $38.81. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 20.11 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 1.21. Essential Utilities Inc. has a 12-month low of $36.10 and a 12-month high of $42.37.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.07). The firm had revenue of $861.76 million during the quarter, compared to analysts’ expectations of $782.90 million. Essential Utilities had a net margin of 21.82% and a return on equity of 8.34%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. As a group, equities analysts expect that Essential Utilities Inc. will post 2.21 EPS for the current fiscal year.

Essential Utilities Company Profile

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.