Gateway Investment Advisers LLC Invests $379,000 in Essential Utilities, Inc. (NYSE:WTRG)

Gateway Investment Advisers LLC purchased a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,223 shares of the company’s stock, valued at approximately $379,000.

Several other large investors also recently modified their holdings of the stock. Lindbrook Capital LLC boosted its holdings in Essential Utilities by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares during the period. VisionPoint Advisory Group LLC boosted its holdings in Essential Utilities by 52.9% in the 4th quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock worth $36,000 after buying an additional 338 shares during the period. Hamilton Point Investment Advisors LLC boosted its holdings in Essential Utilities by 0.5% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 69,788 shares of the company’s stock worth $2,607,000 after buying an additional 342 shares during the period. Bank of New Hampshire boosted its holdings in Essential Utilities by 13.0% in the 4th quarter. Bank of New Hampshire now owns 3,250 shares of the company’s stock worth $121,000 after buying an additional 375 shares during the period. Finally, First Affirmative Financial Network boosted its holdings in Essential Utilities by 5.1% in the 1st quarter. First Affirmative Financial Network now owns 7,910 shares of the company’s stock valued at $293,000 after purchasing an additional 386 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Insider Buying and Selling

In related news, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the transaction, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Essential Utilities news, CAO Robert A. Rubin sold 2,023 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the transaction, the chief accounting officer now owns 13,358 shares in the company, valued at $488,368.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the transaction, the chief accounting officer now owns 57,756 shares in the company, valued at approximately $2,149,100.76. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Essential Utilities Stock Performance

NYSE WTRG opened at $37.35 on Thursday. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $43.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62. The company has a market capitalization of $10.22 billion, a P/E ratio of 17.70, a P/E/G ratio of 3.30 and a beta of 0.84. The company has a fifty day moving average of $37.44 and a 200-day moving average of $36.71.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The company had revenue of $612.07 million for the quarter, compared to the consensus estimate of $747.44 million. As a group, equities research analysts predict that Essential Utilities, Inc. will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on WTRG. Evercore ISI cut their price target on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Robert W. Baird cut their price target on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, May 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.