AQR Capital Management LLC Has $4.70 Million Position in Essential Utilities, Inc. (NYSE:WTRG)

AQR Capital Management LLC lessened its position in Essential Utilities, Inc. (NYSE:WTRG) by 19.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 126,171 shares of the company’s stock after selling 30,818 shares during the quarter. AQR Capital Management LLC’s holdings in Essential Utilities were worth $4,703,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of WTRG. Tradewinds Capital Management LLC boosted its stake in shares of Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after buying an additional 626 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in Essential Utilities in the second quarter valued at approximately $37,000. Webster Bank N. A. acquired a new position in shares of Essential Utilities during the 1st quarter worth approximately $41,000. Riverview Trust Co bought a new stake in shares of Essential Utilities during the 1st quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Essential Utilities by 112.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,513 shares of the company’s stock valued at $56,000 after buying an additional 802 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

NYSE WTRG opened at $38.25 on Friday. The stock has a market cap of $10.46 billion, a PE ratio of 18.13, a P/E/G ratio of 3.41 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. The firm has a 50-day moving average of $39.21 and a 200-day moving average of $38.10. Essential Utilities, Inc. has a 52-week low of $32.30 and a 52-week high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share (EPS) 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 the consensus estimate of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, sell-side analysts anticipate that Essential Utilities, Inc. will post 1.95 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued 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 dividend yield of 3.40%. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio (DPR) is currently 61.61%.

Analyst Ratings Changes

WTRG has been the topic of a number of recent analyst reports. Bank of America restated a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company raised their target price 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. Evercore ISI boosted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird upped their price objective on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

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.