Weaver C. Barksdale & Associates Inc. Makes New $1.97 Million Investment in Essential Utilities, Inc. (NYSE:WTRG)

Weaver C. Barksdale & Associates Inc. acquired a new position in Essential Utilities, Inc. (NYSE:WTRG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,690 shares of the company’s stock, valued at approximately $1,967,000. Essential Utilities comprises approximately 1.9% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 21st largest position.

Other institutional investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC raised its stake in shares of Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after buying an additional 626 shares in the last quarter. Tradition Wealth Management LLC grew its holdings in Essential Utilities by 246.0% during the 4th quarter. Tradition Wealth Management LLC now owns 955 shares of the company’s stock worth $36,000 after acquiring an additional 679 shares during the period. Quest Partners LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at about $36,000. Voisard Asset Management Group Inc. acquired a new stake in Essential Utilities during the 2nd quarter worth $37,000. Finally, Webster Bank N. A. acquired a new stake in Essential Utilities during the 1st quarter worth approximately $41,000. 74.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Robert A. Rubin sold 2,342 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.06. Following the completion of the sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.21% of the stock is owned by company insiders.

Essential Utilities Stock Down 1.1 %

Shares of WTRG opened at $38.30 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $41.78. The stock’s 50-day moving average price is $39.72 and its two-hundred day moving average price is $37.88. The company has a market capitalization of $10.48 billion, a PE ratio of 18.15, a PEG ratio of 3.46 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. On average, analysts anticipate that Essential Utilities, Inc. will post 1.94 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.3255 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.30 annualized dividend and a yield of 3.40%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio is presently 61.61%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WTRG. Evercore ISI increased their target price 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 increased their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird lifted their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.