Truist Financial Corp Has $641,000 Position in Essential Utilities, Inc. (NYSE:WTRG)

Truist Financial Corp cut its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,643 shares of the company’s stock after selling 592 shares during the period. Truist Financial Corp’s holdings in Essential Utilities were worth $641,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WTRG. Brooklyn Investment Group acquired a new position in shares of Essential Utilities during the 3rd quarter valued at $26,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities during the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. boosted its holdings in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Essential Utilities in the third quarter valued at approximately $42,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Essential Utilities by 81.2% during the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after acquiring an additional 515 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Trading Up 1.0 %

Shares of WTRG stock opened at $37.96 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.57 and a beta of 0.86. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The company’s fifty day simple moving average is $35.60 and its two-hundred day simple moving average is $37.83.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $604.38 million for the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

Analyst Ratings Changes

Several research analysts recently issued reports on WTRG shares. Wells Fargo & Company lifted their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group decreased their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. Finally, Robert W. Baird raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.33.

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.