Advisors Asset Management Inc. Reduces Position in Essential Utilities, Inc. (NYSE:WTRG)

Advisors Asset Management Inc. decreased its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 27.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,544 shares of the company’s stock after selling 7,337 shares during the quarter. Advisors Asset Management Inc.’s holdings in Essential Utilities were worth $754,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WTRG. Commerce Bank raised its holdings in shares of Essential Utilities by 13.3% during the third quarter. Commerce Bank now owns 6,865 shares of the company’s stock valued at $265,000 after purchasing an additional 805 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Essential Utilities during the 3rd quarter valued at $219,000. Lindenwold Advisors INC raised its stake in Essential Utilities by 4.8% during the 3rd quarter. Lindenwold Advisors INC now owns 7,930 shares of the company’s stock valued at $306,000 after buying an additional 364 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Essential Utilities in the 3rd quarter worth $630,000. Finally, Natixis Advisors LLC boosted its stake in shares of Essential Utilities by 6.0% in the 3rd quarter. Natixis Advisors LLC now owns 66,382 shares of the company’s stock worth $2,560,000 after buying an additional 3,761 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $40.05 on Wednesday. The firm’s 50 day simple moving average is $39.06 and its two-hundred day simple moving average is $38.86. 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 company has a market capitalization of $11.00 billion, a P/E ratio of 20.02, a P/E/G ratio of 3.13 and a beta of 0.84. Essential Utilities, Inc. has a 1-year low of $33.57 and a 1-year high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Essential Utilities’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. Research analysts expect that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, November 12th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Evercore ISI lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Bank of America restated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities presently has an average rating of “Moderate Buy” and an average price target of $44.00.

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.