Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,624 shares of the company’s stock after selling 795 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Essential Utilities were worth $882,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WTRG. Tradewinds Capital Management LLC boosted its stake in shares of Essential Utilities by 857.5% during the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after acquiring an additional 626 shares during the last quarter. Quest Partners LLC purchased a new position in Essential Utilities in the 4th quarter valued at about $36,000. Tradition Wealth Management LLC lifted its holdings in Essential Utilities by 246.0% in the 4th quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock valued at $36,000 after purchasing an additional 679 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new stake in Essential Utilities during the second quarter worth approximately $37,000. Finally, Webster Bank N. A. purchased a new stake in shares of Essential Utilities in the first quarter valued at $41,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Insider Activity at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.43, for a total transaction of $87,661.06. Following the completion of the transaction, the chief accounting officer now owns 53,391 shares in the company, valued at approximately $1,998,425.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is owned by insiders.

Essential Utilities Stock Down 1.1 %

Shares of NYSE:WTRG opened at $38.30 on Friday. The company’s fifty day moving average is $39.72 and its two-hundred day moving average is $37.88. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $41.78. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 3.46 and a beta of 0.85.

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

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.40%. 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 is 61.61%.

Analyst Ratings Changes

WTRG has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI increased their price target on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Essential Utilities Company 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.