Godshalk Welsh Capital Management Inc. Has $972,000 Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Godshalk Welsh Capital Management Inc. trimmed its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,036 shares of the company’s stock after selling 1,550 shares during the period. Godshalk Welsh Capital Management Inc.’s holdings in Essential Utilities were worth $972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Tradewinds Capital Management LLC increased its holdings in Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after buying an additional 626 shares during the period. Tradition Wealth Management LLC boosted its position in shares of Essential Utilities by 246.0% during the 4th quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock worth $36,000 after acquiring an additional 679 shares in the last quarter. Quest Partners LLC bought a new position in Essential Utilities in the fourth quarter valued at approximately $36,000. Voisard Asset Management Group Inc. acquired a new position in Essential Utilities during the second quarter valued at approximately $37,000. Finally, Webster Bank N. A. bought a new stake in Essential Utilities during the first quarter worth $41,000. 74.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird upped their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company raised their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.40.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $38.30 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. Essential Utilities, Inc. has a 52 week low of $32.07 and a 52 week high of $41.78. The firm has a 50 day moving average of $39.72 and a 200-day moving average of $37.88. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 3.46 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The firm had revenue of $434.40 million during the quarter, compared to the consensus estimate of $442.76 million. During the same quarter in the previous year, the company posted $0.34 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Essential Utilities, Inc. will post 1.94 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Monday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio is currently 61.61%.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 2,342 shares of Essential Utilities stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.43, for a total transaction of $87,661.06. Following the transaction, the chief accounting officer now owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

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.