ProShare Advisors LLC Buys 21,804 Shares of Essential Utilities, Inc. (NYSE:WTRG)

ProShare Advisors LLC raised its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 881,658 shares of the company’s stock after purchasing an additional 21,804 shares during the period. ProShare Advisors LLC owned 0.32% of Essential Utilities worth $32,912,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WTRG. Nordea Investment Management AB raised its position in shares of Essential Utilities by 17,553.7% in the 1st quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock worth $126,156,000 after acquiring an additional 3,405,947 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in shares of Essential Utilities in the 1st quarter worth about $46,280,000. UBS Group AG raised its position in shares of Essential Utilities by 271.9% in the 4th quarter. UBS Group AG now owns 1,225,849 shares of the company’s stock worth $45,785,000 after acquiring an additional 896,223 shares in the last quarter. Vanguard Group Inc. increased its position in Essential Utilities by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock valued at $1,045,504,000 after buying an additional 823,495 shares in the last quarter. Finally, Energy Income Partners LLC bought a new stake in Essential Utilities in the 1st quarter valued at about $26,917,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Down 0.8 %

Shares of NYSE:WTRG opened at $38.00 on Monday. The stock’s 50-day moving average price is $39.68 and its 200-day moving average price is $37.95. Essential Utilities, Inc. has a 12-month low of $32.07 and a 12-month high of $41.78. The stock has a market capitalization of $10.40 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 3.55 and a beta of 0.85. 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 (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 company had revenue of $434.40 million for the quarter, compared to the consensus estimate of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. On average, equities analysts anticipate that Essential Utilities, Inc. will post 1.94 earnings per share for the current 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 given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.43%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, August 12th. Essential Utilities’s payout ratio is presently 61.61%.

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of Essential Utilities stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

WTRG has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird boosted their target price on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America reaffirmed a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research report on Friday. Finally, Wells Fargo & Company increased their price objective on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.