Stonebridge Financial Group LLC Purchases New Shares in Essential Utilities, Inc. (NYSE:WTRG)

Stonebridge Financial Group LLC acquired a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,660 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Geode Capital Management LLC grew its position in Essential Utilities by 2.0% during the 3rd 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. raised its stake in Essential Utilities by 4.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after purchasing an additional 100,990 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Essential Utilities by 7.3% in 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 valued at $83,088,000 after purchasing an additional 145,767 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of Essential Utilities by 8.4% in the fourth quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock worth $77,249,000 after buying an additional 164,215 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 0.3 %

WTRG opened at $35.84 on Friday. The company has a market capitalization of $9.84 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.53 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, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The business has a 50-day moving average of $35.99 and a 200-day moving average of $38.15.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, February 10th. Essential Utilities’s payout ratio is presently 65.00%.

Wall Street Analysts Forecast Growth

WTRG has been the topic of several recent analyst reports. Robert W. Baird upped their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group dropped their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Essential Utilities presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.