Choreo LLC Reduces Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Choreo LLC reduced its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,155 shares of the company’s stock after selling 1,286 shares during the period. Choreo LLC’s holdings in Essential Utilities were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its position in shares of Essential Utilities by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock valued at $2,001,000 after buying an additional 803 shares in the last quarter. Synergy Asset Management LLC raised its stake in Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock worth $5,529,000 after acquiring an additional 71,222 shares during the period. Nordea Investment Management AB lifted its holdings in Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares in the last quarter. Empower Advisory Group LLC boosted its position in shares of Essential Utilities by 5.6% in the third quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock worth $61,152,000 after purchasing an additional 84,596 shares during the period. Finally, Brighton Jones LLC purchased a new stake in shares of Essential Utilities in the fourth quarter worth $638,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Trading Up 1.3 %

Shares of WTRG stock opened at $35.38 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock’s 50-day moving average price is $36.15 and its 200-day moving average price is $38.20.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Monday, February 10th. Essential Utilities’s payout ratio is 65.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, January 28th. Robert W. Baird increased their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.00.

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.