Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 222,769 shares of the company’s stock after selling 4,185 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Essential Utilities were worth $8,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Essential Utilities during the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities during the third quarter worth about $28,000. First Horizon Advisors Inc. boosted its position in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 294 shares during the last quarter. Truvestments Capital LLC acquired a new position in Essential Utilities in the 3rd quarter worth approximately $42,000. Finally, IFP Advisors Inc raised its position 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 buying an additional 473 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Trading Down 0.4 %

WTRG stock opened at $39.70 on Wednesday. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a market cap of $10.91 billion, a P/E ratio of 19.85, a PEG ratio of 2.57 and a beta of 0.79. The company’s 50-day simple moving average is $36.36 and its 200-day simple moving average is $37.83.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. As a group, equities analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.28%. Essential Utilities’s dividend payout ratio is currently 59.91%.

Analyst Ratings Changes

Several research firms have recently commented on WTRG. Evercore ISI upped their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price objective on 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, 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Company 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.