Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,724 shares of the company’s stock after acquiring an additional 908 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Essential Utilities were worth $1,519,000 at the end of the most recent reporting period.

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

Essential Utilities Price Performance

NYSE WTRG opened at $38.00 on Friday. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $41.78. The business’s fifty day moving average is $39.68 and its two-hundred day moving average is $37.92. The stock has a market capitalization of $10.40 billion, a P/E ratio of 18.01, a P/E/G ratio of 3.55 and a beta of 0.85. 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 (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). Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The company 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 earned $0.34 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts forecast that Essential Utilities, Inc. will post 1.94 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.3255 per share. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a yield of 3.43%. Essential Utilities’s dividend payout ratio is currently 61.61%.

Insiders Place Their Bets

In other news, CAO Robert A. Rubin sold 2,342 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.43, for a total transaction of $87,661.06. Following the sale, the chief accounting officer now owns 53,391 shares in the company, valued at $1,998,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on WTRG shares. Evercore ISI raised 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. Wells Fargo & Company increased their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America reiterated a “buy” rating and set a $45.00 price objective on shares of Essential Utilities in a research note on Friday. Finally, Robert W. Baird upped their target price on Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

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.