Whittier Trust Co. Lowers Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Whittier Trust Co. cut its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,248 shares of the company’s stock after selling 507 shares during the period. Whittier Trust Co.’s holdings in Essential Utilities were worth $118,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Essential Utilities during the third quarter worth $26,000. VSM Wealth Advisory LLC purchased a new position in Essential Utilities during the fourth quarter valued at $26,000. First Horizon Advisors Inc. raised its position in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 294 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of Essential Utilities in the third quarter valued at about $42,000. Finally, IFP Advisors Inc raised its position 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 valued at $40,000 after buying an additional 473 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WTRG. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. UBS Group reduced their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Evercore ISI increased their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their target price 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Price Performance

Essential Utilities stock opened at $38.39 on Monday. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock has a market cap of $10.55 billion, a P/E ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.79. The company has a 50-day moving average price of $36.61 and a 200 day moving average price of $37.82. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is presently 59.91%.

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.