Epoch Investment Partners Inc. Sells 68,361 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Epoch Investment Partners Inc. cut its position in Essential Utilities, Inc. (NYSE:WTRG) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,180,773 shares of the company’s stock after selling 68,361 shares during the quarter. Epoch Investment Partners Inc. owned 0.43% of Essential Utilities worth $44,078,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WTRG. Tradewinds Capital Management LLC lifted its holdings in shares of Essential Utilities by 857.5% during the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after purchasing an additional 626 shares during the period. Quest Partners LLC acquired a new position in Essential Utilities during the 4th quarter worth about $36,000. Tradition Wealth Management LLC grew its position in shares of Essential Utilities by 246.0% in the 4th quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock valued at $36,000 after buying an additional 679 shares during the last quarter. Voisard Asset Management Group Inc. acquired a new stake in shares of Essential Utilities in the second quarter valued at about $37,000. Finally, Webster Bank N. A. acquired a new stake in shares of Essential Utilities in the first quarter valued at about $41,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $38.00 on Monday. 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 $39.68 and a 200-day moving average of $37.95. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The company had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.3255 per share. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Monday, August 12th. Essential Utilities’s dividend payout ratio is 61.61%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CAO Robert A. Rubin sold 2,342 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 53,391 shares in the company, valued at $1,998,425.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.