SOA Wealth Advisors LLC. Sells 2,201 Shares of Essential Utilities, Inc. (NYSE:WTRG)

SOA Wealth Advisors LLC. trimmed its stake in Essential Utilities, Inc. (NYSE:WTRG) by 75.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 705 shares of the company’s stock after selling 2,201 shares during the period. SOA Wealth Advisors LLC.’s holdings in Essential Utilities were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. HighTower Advisors LLC grew its position in shares of Essential Utilities by 27.2% during the 3rd quarter. HighTower Advisors LLC now owns 77,114 shares of the company’s stock worth $2,633,000 after buying an additional 16,496 shares in the last quarter. Citigroup Inc. grew its holdings in Essential Utilities by 0.9% during the 3rd quarter. Citigroup Inc. now owns 60,473 shares of the company’s stock worth $2,076,000 after acquiring an additional 522 shares in the last quarter. Kestra Advisory Services LLC increased its position in Essential Utilities by 37.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 52,594 shares of the company’s stock valued at $1,806,000 after purchasing an additional 14,356 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Essential Utilities in the 3rd quarter valued at about $343,000. Finally, FMR LLC lifted its position in shares of Essential Utilities by 20.8% in the 3rd quarter. FMR LLC now owns 578,281 shares of the company’s stock worth $19,852,000 after purchasing an additional 99,765 shares during the period. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Price Performance

Shares of WTRG opened at $37.24 on Friday. The company has a 50 day moving average of $37.31 and a two-hundred day moving average of $36.68. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 1.13. Essential Utilities, Inc. has a twelve month low of $32.07 and a twelve month high of $43.26. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 3.27 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The business had revenue of $612.07 million during the quarter, compared to analyst estimates of $747.44 million. As a group, analysts predict that Essential Utilities, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WTRG shares. Evercore ISI cut their price objective on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Robert W. Baird reduced their price target on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. One research analyst has rated the stock with a sell 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 an average price target of $43.00.

Insider Buying and Selling at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,023 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares in the company, valued at $488,368.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the sale, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at approximately $488,368.48. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Essential Utilities Profile

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.