Robeco Institutional Asset Management B.V. Acquires 3,569 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,560 shares of the company’s stock after purchasing an additional 3,569 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Essential Utilities were worth $2,054,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WTRG. Squarepoint Ops LLC bought a new stake in shares of Essential Utilities in the 2nd quarter worth approximately $1,016,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Essential Utilities by 134.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,560 shares of the company’s stock worth $282,000 after acquiring an additional 4,340 shares during the period. Cetera Investment Advisers lifted its position in shares of Essential Utilities by 5.8% in the 2nd quarter. Cetera Investment Advisers now owns 51,561 shares of the company’s stock worth $1,925,000 after acquiring an additional 2,811 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Essential Utilities in the 2nd quarter worth approximately $630,000. Finally, EWG Elevate Inc. bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $200,000. Institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

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

Essential Utilities Price Performance

Essential Utilities stock opened at $36.03 on Tuesday. The business has a 50 day simple moving average of $36.72 and a 200 day simple moving average of $38.43. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The company has a market capitalization of $9.89 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same period last year, the firm posted $0.30 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a dividend of $0.3255 per share. The ex-dividend date is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.61%. Essential Utilities’s dividend payout ratio is 65.00%.

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.