Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,881 shares of the company’s stock after purchasing an additional 803 shares during the quarter. Glenmede Trust Co. NA’s holdings in Essential Utilities were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Friedenthal Financial acquired a new stake in shares of Essential Utilities during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in Essential Utilities in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new stake in Essential Utilities in the 3rd quarter valued at approximately $28,000. First Horizon Advisors Inc. increased its position in Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares during the period. Finally, Voisard Asset Management Group Inc. acquired a new stake in Essential Utilities in the 2nd quarter valued at approximately $37,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WTRG has been the topic of several analyst reports. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and lowered their target price for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Evercore ISI raised their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Wells Fargo & Company lowered their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird raised their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Bank of America reaffirmed a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $40.03 on Monday. The stock has a fifty day moving average price of $39.18 and a two-hundred day moving average price of $38.88. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The firm has a market cap of $10.99 billion, a P/E ratio of 20.02, a PEG ratio of 3.17 and a beta of 0.84. Essential Utilities, Inc. has a 1 year low of $33.57 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. Research analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s dividend payout ratio is presently 65.00%.

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.