HM Payson & Co. Reduces Position in Essential Utilities, Inc. (NYSE:WTRG)

HM Payson & Co. trimmed its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 115,629 shares of the company’s stock after selling 425 shares during the quarter. HM Payson & Co.’s holdings in Essential Utilities were worth $4,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of WTRG. Brooklyn Investment Group purchased a new position in Essential Utilities in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new stake in Essential Utilities during the 3rd quarter worth about $28,000. First Horizon Advisors Inc. lifted its holdings in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after purchasing an additional 294 shares in the last quarter. IFP Advisors Inc lifted its holdings in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after purchasing an additional 473 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Essential Utilities during the 3rd quarter worth about $42,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 3.5 %

Shares of NYSE WTRG opened at $39.81 on Friday. The business has a 50-day moving average of $35.85 and a 200-day moving average of $37.83. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Sell-side analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.27%. Essential Utilities’s payout ratio is 59.91%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. UBS Group reduced their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company boosted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, Evercore ISI increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and an average target price of $43.50.

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.