US Bancorp DE Trims Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

US Bancorp DE trimmed its stake in Essential Utilities, Inc. (NYSE:WTRG) by 7.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,996 shares of the company’s stock after selling 1,163 shares during the period. US Bancorp DE’s holdings in Essential Utilities were worth $545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc grew its holdings in shares of Essential Utilities by 1.8% during the third quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock worth $549,000 after purchasing an additional 250 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Essential Utilities by 4.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company’s stock valued at $230,000 after purchasing an additional 289 shares during the period. First Horizon Advisors Inc. grew its stake in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Essential Utilities by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company’s stock worth $2,546,000 after buying an additional 300 shares during the period. Finally, Rothschild Investment LLC lifted its stake in Essential Utilities by 1.7% in the fourth quarter. Rothschild Investment LLC now owns 19,527 shares of the company’s stock valued at $709,000 after buying an additional 317 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

Shares of WTRG opened at $39.72 on Wednesday. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock has a market cap of $10.92 billion, a P/E ratio of 19.86, a PEG ratio of 2.57 and a beta of 0.79. 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 company has a 50-day moving average of $36.01 and a two-hundred day moving average of $37.82.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. As a group, research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

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 issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.28%. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

Analysts Set New Price Targets

WTRG has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

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.