Cerity Partners LLC Grows Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Cerity Partners LLC boosted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 17.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,201 shares of the company’s stock after acquiring an additional 5,347 shares during the quarter. Cerity Partners LLC’s holdings in Essential Utilities were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Friedenthal Financial bought a new position in Essential Utilities during the 3rd quarter valued at approximately $25,000. Darwin Wealth Management LLC bought a new position in shares of Essential Utilities during the third quarter valued at approximately $28,000. First Horizon Advisors Inc. lifted its stake in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares during the period. Voisard Asset Management Group Inc. bought a new stake in Essential Utilities in the second quarter valued at $37,000. Finally, Farther Finance Advisors LLC increased its position in Essential Utilities by 81.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after purchasing an additional 515 shares during the period. 74.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $41.00 in a research note on Thursday, November 7th. Robert W. Baird upped their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Bank of America reaffirmed a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Evercore ISI raised their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Essential Utilities Stock Down 1.3 %

WTRG stock opened at $39.67 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average of $39.25 and a 200 day moving average of $38.89. Essential Utilities, Inc. has a twelve month low of $33.57 and a twelve month high of $41.78. The firm has a market cap of $10.89 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 3.18 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. During the same quarter in the previous year, the firm earned $0.30 EPS. Essential Utilities’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts forecast that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Tuesday, November 12th. Essential Utilities’s dividend payout ratio (DPR) is currently 65.00%.

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.