Essential Utilities, Inc. (NYSE:WTRG) Holdings Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in Essential Utilities, Inc. (NYSE:WTRG) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,010 shares of the company’s stock after selling 3,043 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Essential Utilities worth $18,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB boosted its holdings in shares of Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Essential Utilities by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock valued at $165,701,000 after acquiring an additional 82,456 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in shares of Essential Utilities by 4.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after acquiring an additional 100,990 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Essential Utilities by 7.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock valued at $83,088,000 after acquiring an additional 145,767 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in shares of Essential Utilities by 8.4% in the fourth quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock valued at $77,249,000 after acquiring an additional 164,215 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Up 1.0 %

WTRG stock opened at $35.75 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The firm has a market cap of $9.82 billion, a PE ratio of 17.88, a P/E/G ratio of 2.53 and a beta of 0.86. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The firm has a 50 day simple moving average of $36.06 and a 200 day simple moving average of $38.16.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.64%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analyst Upgrades and Downgrades

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

About Essential Utilities

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.