First National Corp MA ADV Reduces Stake in Essential Utilities, Inc. (NYSE:WTRG)

First National Corp MA ADV cut its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 81.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,915 shares of the company’s stock after selling 69,974 shares during the quarter. First National Corp MA ADV’s holdings in Essential Utilities were worth $614,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC grew its holdings in Essential Utilities by 4.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock worth $259,000 after acquiring an additional 297 shares during the period. Sanibel Captiva Trust Company Inc. boosted its stake in shares of Essential Utilities by 5.4% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock worth $240,000 after acquiring an additional 334 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of Essential Utilities by 5.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock valued at $241,000 after acquiring an additional 339 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Essential Utilities by 8.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,416 shares of the company’s stock valued at $165,000 after purchasing an additional 352 shares in the last quarter. Finally, First Affirmative Financial Network raised its holdings in Essential Utilities by 5.1% in the 1st quarter. First Affirmative Financial Network now owns 7,910 shares of the company’s stock worth $293,000 after purchasing an additional 386 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Price Performance

Shares of Essential Utilities stock remained flat at $38.30 on Wednesday. The stock had a trading volume of 59,726 shares, compared to its average volume of 1,541,791. 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 stock’s fifty day moving average is $39.12 and its 200-day moving average is $38.14. The stock has a market cap of $10.48 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 3.44 and a beta of 0.84. Essential Utilities, Inc. has a fifty-two week low of $32.42 and a fifty-two week high of $41.78.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $442.76 million. During the same period last year, the firm posted $0.34 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. Research analysts forecast that Essential Utilities, Inc. will post 1.95 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently disclosed 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. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a yield of 3.40%. The ex-dividend date was Monday, August 12th. Essential Utilities’s dividend payout ratio (DPR) is presently 61.61%.

Wall Street Analyst Weigh In

Several analysts have commented on WTRG shares. Jefferies Financial Group initiated coverage on Essential Utilities in a report on Monday. They issued a “buy” rating and a $44.00 price objective on the stock. Bank of America reissued a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company increased their price objective 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. Robert W. Baird lifted their target price on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI upped their price target 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. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.

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.