Essential Utilities, Inc. (NYSE:WTRG) Stock Holdings Lessened by D.A. Davidson & CO.

D.A. Davidson & CO. trimmed its stake in Essential Utilities, Inc. (NYSE:WTRG) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,855 shares of the company’s stock after selling 1,858 shares during the quarter. D.A. Davidson & CO.’s holdings in Essential Utilities were worth $503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in WTRG. International Assets Investment Management LLC purchased a new stake in shares of Essential Utilities in the third quarter worth approximately $3,785,000. Assenagon Asset Management S.A. lifted its position in shares of Essential Utilities by 286.5% in the third quarter. Assenagon Asset Management S.A. now owns 38,373 shares of the company’s stock worth $1,480,000 after purchasing an additional 28,444 shares in the last quarter. Ballentine Partners LLC bought a new position in Essential Utilities during the third quarter valued at approximately $236,000. Forsta AP Fonden raised its position in Essential Utilities by 42.2% during the third quarter. Forsta AP Fonden now owns 71,100 shares of the company’s stock valued at $2,742,000 after acquiring an additional 21,100 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Essential Utilities by 11.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,087 shares of the company’s stock valued at $1,816,000 after acquiring an additional 4,666 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Essential Utilities Trading Up 2.8 %

NYSE:WTRG opened at $38.05 on Wednesday. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 2.57 and a beta of 0.87. 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 company’s 50 day moving average is $35.51 and its 200-day moving average is $37.86.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is 65.00%.

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.