RWC Asset Management LLP Purchases Shares of 58,349 Essential Utilities, Inc. (NYSE:WTRG)

RWC Asset Management LLP bought a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 58,349 shares of the company’s stock, valued at approximately $2,119,000.

A number of other large investors also recently modified their holdings of the stock. Nordea Investment Management AB lifted its position in shares of Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Essential Utilities by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock worth $165,701,000 after purchasing an additional 82,456 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Essential Utilities by 4.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock worth $97,632,000 after purchasing an additional 100,990 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Essential Utilities by 7.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock worth $83,088,000 after purchasing an additional 145,767 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Essential Utilities by 8.4% during the fourth quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock worth $77,249,000 after purchasing an additional 164,215 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Trading Up 1.7 %

WTRG opened at $36.58 on Monday. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. The firm has a 50 day simple moving average of $35.54 and a 200 day simple moving average of $37.89.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is presently 65.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WTRG shares. Robert W. Baird upped their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. UBS Group reduced their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.