Tradewinds Capital Management LLC Has $26,000 Position in Essential Utilities, Inc. (NYSE:WTRG)

Tradewinds Capital Management LLC increased its stake in Essential Utilities, Inc. (NYSE:WTRG) by 857.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 699 shares of the company’s stock after purchasing an additional 626 shares during the quarter. Tradewinds Capital Management LLC’s holdings in Essential Utilities were worth $26,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bare Financial Services Inc acquired a new position in shares of Essential Utilities during the fourth quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after buying an additional 610 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after buying an additional 842 shares during the last quarter. Finally, Resources Management Corp CT ADV lifted its holdings in shares of Essential Utilities by 250.0% during the third quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 750 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

WTRG opened at $36.78 on Thursday. The stock’s 50 day simple moving average is $37.63 and its 200-day simple moving average is $36.74. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $43.26. The stock has a market cap of $10.06 billion, a PE ratio of 17.43, a P/E/G ratio of 3.27 and a beta of 0.83. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.13.

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

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.06. Following the sale, the chief accounting officer now directly owns 53,391 shares in the company, valued at $1,998,425.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares in the company, valued at $488,368.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the transaction, the chief accounting officer now directly owns 53,391 shares in the company, valued at approximately $1,998,425.13. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price objective on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.