Essential Utilities, Inc. (NYSE:WTRG) Stake Lessened by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lessened its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,663 shares of the company’s stock after selling 2,014 shares during the period. Ameritas Investment Partners Inc.’s holdings in Essential Utilities were worth $3,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WTRG. Nordea Investment Management AB lifted its position in Essential Utilities by 17,553.7% in the 1st quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock worth $126,156,000 after buying an additional 3,405,947 shares in the last quarter. Norges Bank purchased a new stake in shares of Essential Utilities during the fourth quarter worth $97,288,000. Epoch Investment Partners Inc. acquired a new stake in Essential Utilities during the first quarter valued at $46,280,000. UBS Group AG grew its stake in Essential Utilities by 271.9% in the fourth quarter. UBS Group AG now owns 1,225,849 shares of the company’s stock valued at $45,785,000 after purchasing an additional 896,223 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Essential Utilities by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock worth $1,045,504,000 after purchasing an additional 823,495 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Down 0.8 %

NYSE:WTRG opened at $38.00 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. The company’s 50 day moving average is $39.68 and its 200-day moving average is $37.90. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 3.55 and a beta of 0.85. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last released its earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. Equities analysts anticipate that Essential Utilities, Inc. will post 1.94 EPS for the current year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.3255 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.30 dividend on an annualized basis and a yield of 3.43%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is 61.61%.

Insider Activity at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the firm’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 sale, the chief accounting officer now directly owns 53,391 shares in the company, valued at approximately $1,998,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WTRG. Evercore ISI boosted their price target on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Bank of America reissued a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research report on Friday. Robert W. Baird raised their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

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.