MBB Public Markets I LLC Invests $708,000 in Essential Utilities, Inc. (NYSE:WTRG)

MBB Public Markets I LLC bought a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 18,964 shares of the company’s stock, valued at approximately $708,000.

Other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Essential Utilities by 24.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,120 shares of the company’s stock valued at $5,636,000 after buying an additional 30,152 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Essential Utilities by 12.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company’s stock worth $5,171,000 after acquiring an additional 15,009 shares during the last quarter. Nordea Investment Management AB boosted its position in Essential Utilities by 17,553.7% in the first quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock valued at $126,156,000 after buying an additional 3,405,947 shares in the last quarter. Epoch Investment Partners Inc. bought a new stake in Essential Utilities during the 1st quarter worth $46,280,000. Finally, Boston Trust Walden Corp grew its holdings in shares of Essential Utilities by 350.3% during the second quarter. Boston Trust Walden Corp now owns 903,372 shares of the company’s stock worth $33,723,000 after purchasing an additional 702,760 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $38.31 on Wednesday. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.37 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. The business has a 50-day simple moving average of $39.35 and a two-hundred day simple moving average of $38.06. Essential Utilities, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share 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 analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, analysts expect that Essential Utilities, Inc. will post 1.95 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.40%. The ex-dividend date was Monday, August 12th. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is currently 61.61%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America reaffirmed a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. Wells Fargo & Company lifted 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. Evercore ISI raised 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. Finally, Robert W. Baird lifted their price target 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 research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

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.