Axxcess Wealth Management LLC Has $846,000 Position in Essential Utilities, Inc. (NYSE:WTRG)

Axxcess Wealth Management LLC decreased its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,302 shares of the company’s stock after selling 327 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Essential Utilities were worth $846,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Gitterman Wealth Management LLC boosted its stake in shares of Essential Utilities by 11.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 10,243 shares of the company’s stock valued at $372,000 after purchasing an additional 1,020 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Essential Utilities by 38.9% during the fourth quarter. Natixis Advisors LLC now owns 92,228 shares of the company’s stock worth $3,350,000 after buying an additional 25,846 shares during the last quarter. LBP AM SA boosted its stake in Essential Utilities by 2.9% in the fourth quarter. LBP AM SA now owns 64,233 shares of the company’s stock valued at $2,333,000 after acquiring an additional 1,809 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in Essential Utilities by 5.4% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,945 shares of the company’s stock worth $289,000 after acquiring an additional 409 shares during the period. Finally, Vestcor Inc raised its position in shares of Essential Utilities by 6.6% during the 4th quarter. Vestcor Inc now owns 21,571 shares of the company’s stock valued at $783,000 after acquiring an additional 1,332 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Trading Down 0.8 %

NYSE WTRG opened at $38.82 on Friday. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The firm has a market cap of $10.67 billion, a P/E ratio of 19.41, a P/E/G ratio of 2.57 and a beta of 0.79. The stock’s 50-day moving average is $36.52 and its 200-day moving average is $37.85.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results 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. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.35%. Essential Utilities’s dividend payout ratio (DPR) is 59.91%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WTRG shares. Wells Fargo & Company increased their price target 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. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI lifted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and five have given 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 price target 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.