Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its position in Essential Utilities, Inc. (NYSE:WTRG) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,059 shares of the company’s stock after selling 2,745 shares during the quarter. TD Asset Management Inc’s holdings in Essential Utilities were worth $4,818,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Essential Utilities by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock valued at $1,045,504,000 after acquiring an additional 823,495 shares in the last quarter. Nordea Investment Management AB raised its holdings in Essential Utilities by 17,553.7% during the first quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock worth $126,156,000 after purchasing an additional 3,405,947 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Essential Utilities by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 2,754,099 shares of the company’s stock worth $102,811,000 after purchasing an additional 9,822 shares in the last quarter. Norges Bank acquired a new stake in Essential Utilities during the fourth quarter worth approximately $97,288,000. Finally, Tandem Investment Advisors Inc. raised its holdings in Essential Utilities by 0.7% during the second quarter. Tandem Investment Advisors Inc. now owns 2,023,937 shares of the company’s stock worth $75,554,000 after purchasing an additional 13,557 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 2,342 shares of Essential Utilities stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the transaction, the chief accounting officer now directly owns 53,391 shares in the company, valued at approximately $1,998,425.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by insiders.

Essential Utilities Stock Performance

Shares of WTRG opened at $39.02 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. The firm has a market cap of $10.67 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 3.49 and a beta of 0.85. The company’s 50 day simple moving average is $39.58 and its 200-day simple moving average is $37.73. Essential Utilities, Inc. has a 12-month low of $32.07 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. As a group, equities analysts predict that Essential Utilities, Inc. will post 1.94 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, August 12th. Essential Utilities’s dividend payout ratio (DPR) is 61.61%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Wells Fargo & Company raised their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird raised their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and an average price target of $44.40.

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.