GAMMA Investing LLC Boosts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

GAMMA Investing LLC boosted its stake in Essential Utilities, Inc. (NYSE:WTRG) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,946 shares of the company’s stock after acquiring an additional 332 shares during the period. GAMMA Investing LLC’s holdings in Essential Utilities were worth $180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Friedenthal Financial acquired a new stake in shares of Essential Utilities during the third quarter worth about $25,000. Brooklyn Investment Group purchased a new position in Essential Utilities during the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities during the third quarter worth 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 valued at $30,000 after buying an additional 294 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Essential Utilities in the third quarter valued at approximately $42,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

Shares of WTRG opened at $35.00 on Thursday. The stock has a market capitalization of $9.61 billion, a P/E ratio of 17.50, a P/E/G ratio of 3.06 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities, Inc. has a 1 year low of $33.57 and a 1 year high of $41.78. The company’s fifty day moving average is $38.22 and its two-hundred day moving average is $38.83.

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

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.72%. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $43.00 to $39.00 in a research report on Tuesday. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Robert W. Baird upped their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Bank of America reiterated a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Essential Utilities presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.20.

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.